Bessemer Group Inc. Sells 5,117 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bessemer Group Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,468 shares of the industrial products company's stock after selling 5,117 shares during the period. Bessemer Group Inc. owned about 0.08% of Illinois Tool Works worth $59,886,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new position in Illinois Tool Works in the 4th quarter valued at $26,000. Glass Jacobson Investment Advisors llc increased its position in shares of Illinois Tool Works by 336.0% during 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 last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $31,000. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director now owns 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the subject of several research reports. Citigroup reduced their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Evercore ISI reduced their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. UBS Group dropped their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Truist Financial reduced their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $253.42.

Illinois Tool Works Stock Performance

ITW stock traded up $1.34 during midday trading on Friday, reaching $248.09. 971,319 shares of the company's stock traded hands, compared to its average volume of 1,003,335. The firm has a market capitalization of $72.69 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 5.31 and a beta of 1.10. The company has a 50-day moving average price of $243.49 and a two-hundred day moving average price of $250.29. 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 2.25, a quick ratio of 1.16 and a current ratio of 1.60.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company posted $2.44 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.77%.

Illinois Tool Works Company 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.