Illinois Tool Works, Inc.’s filing revealed that its SVP & CFO Larsen Michael M unloaded Company’s shares for reported $9.85 million on Mar 14 ’24. In the deal valued at $265.06 per share,37,167 shares were sold. As a result of this transaction, Larsen Michael M now holds 46,404 shares worth roughly $ 11.62 million.
Then, Lawler Mary Katherine sold 11,647 shares, generating $3,056,173 in total proceeds. Upon selling the shares at $262.40, the SVP & Chief HR Officer now owns 25,562 shares.
Before that, SANTI ERNEST SCOTT sold 45,676 shares. Illinois Tool Works, Inc. shares valued at $11,698,595 were divested by the Chairman at a price of $256.12 per share. As a result of the transaction, SANTI ERNEST SCOTT now holds 221,015 shares, worth roughly $55.36 million.
Truist initiated its Illinois Tool Works, Inc. [ITW] rating to a Buy in a research note published on March 14, 2024; the price target was $301. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early February from “an Equal weight” to “an Underweight”. BofA Securities also remained covering ITW and has decreased its forecast on January 10, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. Vertical Research revised its rating on January 03, 2023. It rated ITW as “a Hold” which previously was an “a Buy”.
Price Performance Review of ITW
On Friday, Illinois Tool Works, Inc. [NYSE:ITW] saw its stock jump 0.66% to $250.46. Over the last five days, the stock has lost -1.20%. Illinois Tool Works, Inc. shares have fallen nearly -4.38% since the year began. Nevertheless, the stocks have risen 7.42% over the past one year. While a 52-week high of $271.15 was reached on 03/22/24, a 52-week low of $217.06 was recorded on 04/18/24. SMA at 50 days reached $260.30, while 200 days put it at $248.39. A total of 2.12 million shares were traded, compared to the trading of 0.81 million shares in the previous session.
Levels Of Support And Resistance For ITW Stock
The 24-hour chart illustrates a support level at 248.99, which if violated will result in even more drops to 247.51. On the upside, there is a resistance level at 251.43. A further resistance level may holdings at 252.39. The Relative Strength Index (RSI) on the 14-day chart is 31.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.08%. Stochastics %K at 6.02% indicates the stock is a buying.
