Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,497 shares of the industrial products company's stock after selling 20,667 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Illinois Tool Works were worth $380,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works during the fourth quarter valued at $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc grew its position in Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 84 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Illinois Tool Works in the 4th quarter valued at about $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Truist Financial decreased their price target on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research report on Wednesday. UBS Group lowered their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $253.67.

Illinois Tool Works Trading Down 0.3 %

Shares of ITW traded down $0.69 during midday trading on Friday, hitting $242.40. The stock had a trading volume of 809,912 shares, compared to its average volume of 1,015,939. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock's 50 day moving average is $243.34 and its 200 day moving average is $255.87. The firm has a market cap of $71.02 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company's stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.