Bahl & Gaynor Inc. Sells 61,984 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bahl & Gaynor Inc. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 819,364 shares of the industrial products company's stock after selling 61,984 shares during the quarter. Illinois Tool Works makes up approximately 1.3% of Bahl & Gaynor Inc.'s holdings, making the stock its 26th biggest holding. Bahl & Gaynor Inc. owned approximately 0.27% of Illinois Tool Works worth $214,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ITW. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company's stock worth $6,035,292,000 after acquiring an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company's stock worth $294,671,000 after acquiring an additional 675,000 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Illinois Tool Works by 23,183.6% during the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company's stock worth $82,579,000 after acquiring an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Illinois Tool Works by 77.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company's stock valued at $137,538,000 after purchasing an additional 260,679 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Illinois Tool Works by 57.1% in the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company's stock valued at $161,131,000 after purchasing an additional 254,321 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.0 %

ITW traded up $0.12 during trading on Friday, reaching $248.28. The company had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. The business's fifty day moving average price is $260.04 and its 200 day moving average price is $251.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market cap of $74.17 billion, a P/E ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works's payout ratio is 57.49%.

Insider Buying and Selling

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,471 shares of company stock worth $48,712,316. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ITW. Truist Financial began coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a "buy" rating and a $301.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a "hold" rating in a research note on Wednesday, April 17th. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and cut their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company downgraded shares of Illinois Tool Works from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and an average price target of $257.00.

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.