Illinois Tool Works Inc CFO Michael Larsen Sells Company Shares
Michael Larsen, Senior Vice President & Chief Financial Officer of Illinois Tool Works Inc (NYSE:ITW), has sold 37,167 shares of the company on March 14, 2024, according to a recent SEC filing. The transaction was executed at an average price of $265.06 per share, resulting in a total value of approximately $9,850,000.
Illinois Tool Works Inc is a global manufacturer of a broad range of industrial products and equipment. The company operates through seven segments: Automotive OEM, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products, and Specialty Products. ITW's products and solutions are used in various applications, including automotive, electronics, construction, and food equipment.
Over the past year, the insider has sold a total of 37,167 shares and has not made any purchases of the company's stock. The recent sale by Michael Larsen represents a continuation of this selling trend.
The insider transaction history for Illinois Tool Works Inc shows a pattern of insider activity. In the past year, there has been only 1 insider buy, contrasted with 9 insider sells, indicating a general disposition towards selling among insiders at the company.
On the valuation front, Illinois Tool Works Inc's shares were trading at $265.06 on the day of the insider's sale, giving the company a market capitalization of $79.14 billion. The price-earnings ratio stands at 27.19, which is above both the industry median of 22.52 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a stock price of $265.06 and a GF Value of $250.55, Illinois Tool Works Inc has a price-to-GF-Value ratio of 1.06, categorizing the stock as Fairly Valued.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated based on historical trading multiples, a GuruFocus adjustment factor related to past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not always indicative of future stock performance and may be influenced by various factors, including personal financial requirements or portfolio diversification strategies.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
