Gotham Asset Management LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Gotham Asset Management LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 24.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,774 shares of the industrial products company's stock after buying an additional 14,934 shares during the quarter. Gotham Asset Management LLC's holdings in Illinois Tool Works were worth $19,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baron Wealth Management LLC increased its holdings in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after purchasing an additional 39 shares during the period. F M Investments LLC raised its holdings in shares of Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 42 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC raised its stake in Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after buying an additional 46 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its position in Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares of the company's stock, valued at $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. The transaction 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 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 completion of the sale, the chief financial officer now 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. In the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW traded up $0.96 during mid-day trading on Tuesday, reaching $251.27. The stock had a trading volume of 95,688 shares, compared to its average volume of 1,014,612. The business has a fifty day moving average of $243.12 and a 200 day moving average of $255.84. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm has a market cap of $73.62 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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 analysts' expectations of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.39%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday, February 19th. UBS Group lowered their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Stifel Nicolaus raised 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. Finally, Truist Financial decreased 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. 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, Illinois Tool Works currently has an average rating of "Hold" and an average price target of $253.67.

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.