A company insider recently sold 1,000 shares of Illinois Tool Works Inc. [ITW]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Illinois Tool Works Inc. shares valued at $205,340 were sold by Schlitz Lei Zhang on May 11. At $205.34 per share, Schlitz Lei Zhang sold 1,000 shares. The insider’s holdings dropped to 7,803 shares worth approximately $1.63 million following the completion of this transaction.

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Also, SANTI ERNEST SCOTT sold 148,789 shares, netting a total of over 34,435,379 in proceeds. Following the sale of shares at $231.44 each, the insider now holds 203,032 shares.

Before that, Schlitz Lei Zhang had sold 8,800 shares from its account. In a trade valued at $2,122,208, the Executive Vice President traded Illinois Tool Works Inc. shares for $241.16 each. Upon closing the transaction, the insider’s holdings decreased to 8,800 shares, worth approximately $1.52 million.

As published in a research note from UBS on July 08, 2022, Illinois Tool Works Inc. [ITW] has been rated down from a Buy to a Neutral and the price target has been revised to $185 from $243. This represents a -13.2% premium over Thursday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late March. As of October 29, 2021, Wells Fargo has reiterated its “an Equal weight” rating for ITW. Earlier on October 29, 2021, Deutsche Bank resumed its rating. Their recommendation was “a Hold” for ITW stock.

Analyzing ITW’s Price Performance

On Thursday, Illinois Tool Works Inc. [NYSE: ITW] rose 0.42% to $209.42. The stock’s lowest price that day was $207.58, but it reached a high of $210.445 in the same session. During the last five days, there has been a surge of approximately 2.91%. Over the course of the year, Illinois Tool Works Inc. shares have dropped approximately -15.15%. Shares of the company reached a 52-week high of $249.81 on 01/05/22 and a 52-week low of $173.52 on 07/14/22. A 50-day SMA is recorded $192.68, while a 200-day SMA reached $215.78. Nevertheless, trading volume fell to 1.1 million shares from 1.28 million shares the previous day.

Support And Resistance Levels for Illinois Tool Works Inc. (ITW)

According to the 24-hour chart, there is a support level at 207.85, which, if violated, would cause prices to drop to 206.28. In the upper region, resistance lies at 210.72. The next price resistance is at 212.01. RSI (Relative Strength Index) is 71.86 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.27, which suggests the price will increase in the coming days. Percent R is at 11.30%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Illinois Tool Works Inc. subject to short interest?

Stocks of Illinois Tool Works Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.78 million shares to 5.73 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.51 million shares. A decline of -13.61% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.95 of the overall float, the days-to-cover ratio (short ratio) decline to 4.95.

Which companies own the most shares of Illinois Tool Works Inc. (ITW)?

According to Briar Hall Management LLC filings, the company currently owns 25,831,684 shares, which is about 8.29% of the total ITW shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 25831684.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $4,456,214,798. State Farm Investment Management reduced a 0.00% interest valued at $3.83 billion while BlackRock Fund Advisors purchased a 97,059 stake. A total of -39,622 shares of Illinois Tool Works Inc. were bought by Northern Trust Investments, Inc. during the quarter, and -399,177 were sold by SSgA Funds Management, Inc. In its current portfolio, Massachusetts Financial Services holds 6,720,484 shares valued at $1.22 billion.

In terms of Illinois Tool Works Inc. share price expectations, FactSet research, analysts set an average price target of $202.29 in the next 12 months, down nearly -6.49% from the previous closing price of $208.54. Analysts anticipate Illinois Tool Works Inc. stock to reach $236.00 by 2022, with the lowest price target being $176.00. In spite of this, 21 analysts ranked Illinois Tool Works Inc. stock as a Hold at the end of 2022. On October 29, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and reiterated coverage with a $267.


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