GTS Securities LLC Has $357,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

GTS Securities LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 91.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,409 shares of the industrial products company's stock after selling 14,398 shares during the quarter. GTS Securities LLC's holdings in Illinois Tool Works were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ITW. Norges Bank bought a new stake in Illinois Tool Works during the fourth quarter worth about $806,291,000. Raymond James Financial Inc. bought a new stake in Illinois Tool Works during the fourth quarter worth about $203,949,000. Cerity Partners LLC grew its stake in shares of Illinois Tool Works by 263.9% during the fourth 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 grew 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 valued at $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Finally, Proficio Capital Partners LLC grew 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 valued at $111,209,000 after purchasing an additional 437,397 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Down 0.4%

ITW traded down $0.90 during mid-day trading on Friday, hitting $244.83. The stock had a trading volume of 2,390,400 shares, compared to its average volume of 1,018,443. The stock's fifty day simple moving average is $240.10 and its 200-day simple moving average is $254.06. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year 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 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The company 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 business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $2.44 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.45%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Truist Financial decreased their price target 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. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Wall Street Zen cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.