Cresset Asset Management LLC Has $11.49 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Cresset Asset Management LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 33.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,088 shares of the industrial products company's stock after selling 22,510 shares during the period. Cresset Asset Management LLC's holdings in Illinois Tool Works were worth $11,490,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITW. Clark & Stuart Inc bought a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $1,729,000. Czech National Bank raised its holdings in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after acquiring an additional 3,227 shares during the period. Ritholtz Wealth Management grew its position in shares of Illinois Tool Works by 31.6% in the fourth quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company's stock valued at $3,976,000 after purchasing an additional 3,765 shares during the last quarter. Clarity Financial LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $315,000. Finally, Flywheel Private Wealth LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $263,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $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. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last 90 days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 0.3 %

ITW traded down $0.69 during mid-day trading on Friday, reaching $242.40. The stock had a trading volume of 809,912 shares, compared to its average volume of 1,015,936. The stock has a market capitalization of $71.11 billion, a P/E ratio of 20.68, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm's fifty day simple moving average is $243.34 and its two-hundred day simple moving average is $255.87.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company's revenue was down 3.4% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on ITW shares. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Evercore ISI cut their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Finally, UBS Group cut their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and an average target price of $253.67.

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.