Evercore Wealth Management LLC Has $6.41 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Evercore Wealth Management LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,297 shares of the industrial products company's stock after selling 1,753 shares during the period. Evercore Wealth Management LLC's holdings in Illinois Tool Works were worth $6,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ITW. Baron Wealth Management LLC increased its position in shares of Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after purchasing an additional 39 shares in the last quarter. F M Investments LLC grew its stake in Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. increased its position in Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after buying an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings 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 acquiring an additional 46 shares in the last quarter. Finally, Valmark Advisers Inc. increased its holdings in shares of Illinois Tool Works by 0.5% during the fourth 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. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.1 %

Shares of NYSE ITW traded down $0.22 during midday trading on Monday, reaching $239.29. 462,475 shares of the company's stock were exchanged, compared to its average volume of 998,753. 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 Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The business's fifty day moving average price is $247.58 and its two-hundred day moving average price is $257.15. The stock has a market capitalization of $70.20 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were given a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.51%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered 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 research note on Thursday, February 6th. Citigroup lowered their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Finally, Barclays dropped their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $260.09.

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.