Westwood Holdings Group Inc. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,148 shares of the industrial products company's stock, valued at approximately $798,000.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Illinois Tool Works by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock valued at $1,620,491,000 after purchasing an additional 99,753 shares in the last quarter. Capital Research Global Investors lifted its holdings in Illinois Tool Works by 1.8% during the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after purchasing an additional 71,934 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after purchasing an additional 95,925 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ITW has been the topic of several analyst reports. Wall Street Zen downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Evercore ISI lowered their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Truist Financial cut their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $253.42.
Read Our Latest Stock Analysis on Illinois Tool Works
Insider Activity
In related news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $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. Corporate insiders own 0.88% of the company's stock.
Illinois Tool Works Price Performance
ITW stock traded down $2.68 during mid-day trading on Friday, hitting $242.03. The company had a trading volume of 752,546 shares, compared to its average volume of 1,017,625. The company has a 50-day moving average price of $241.07 and a 200 day moving average price of $255.05. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $70.91 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 4.56 and a beta of 1.12. 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 announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations 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 was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio is 52.77%.
About Illinois Tool Works
(
Free Report)
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.
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