Voloridge Investment Management LLC Has $97.44 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Voloridge Investment Management LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 45.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 384,273 shares of the industrial products company's stock after selling 325,982 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.13% of Illinois Tool Works worth $97,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Evercore ISI reduced their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday. Finally, Truist Financial reduced their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $253.42.

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 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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company'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 owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Down 0.0%

Shares of ITW traded down $0.12 on Thursday, reaching $244.53. 831,412 shares of the company's stock were exchanged, compared to its average volume of 1,021,100. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. 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 stock has a market capitalization of $71.65 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The business has a 50 day moving average price of $241.32 and a two-hundred day moving average price of $255.21.

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, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business's quarterly revenue was down 3.4% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

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.