B. Riley Wealth Advisors Inc. Cuts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

B. Riley Wealth Advisors Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,830 shares of the industrial products company's stock after selling 1,128 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Illinois Tool Works were worth $1,742,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ITW. Norges Bank purchased a new position in shares of Illinois Tool Works during the fourth quarter worth about $806,291,000. Raymond James Financial Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $203,949,000. Cerity Partners LLC grew its stake in shares of Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock valued at $229,269,000 after purchasing an additional 655,341 shares during the last quarter. Northern Trust Corp raised its stake in shares of Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Illinois Tool Works by 36,632.9% during the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock worth $111,209,000 after purchasing an additional 437,397 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $1.51 during trading on Thursday, hitting $245.34. 713,545 shares of the stock were exchanged, compared to its average volume of 1,013,344. The company has a market cap of $71.88 billion, a PE ratio of 20.93, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a fifty day moving average price of $240.51 and a two-hundred day moving average price of $254.44. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the business earned $2.44 earnings per share. Illinois Tool Works's quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.45%. Illinois Tool Works's payout ratio is 52.77%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ITW shares. Truist Financial dropped their price objective on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note 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 price objective for the company in a research report on Wednesday, February 19th. Citigroup dropped their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $253.42.

Illinois Tool Works Profile

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.