Briar Hall Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,157,274 shares of the industrial products company's stock after selling 6,150 shares during the period. Illinois Tool Works comprises approximately 100.0% of Briar Hall Management LLC's holdings, making the stock its largest holding. Briar Hall Management LLC owned approximately 8.69% of Illinois Tool Works worth $6,851,636,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. grew its position in Illinois Tool Works by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company's stock worth $1,590,000 after acquiring an additional 84 shares during the last quarter. Rockline Wealth Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $4,180,000. Wesbanco Bank Inc. boosted its position in Illinois Tool Works by 23.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company's stock valued at $1,401,000 after buying an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $224,000. Finally, Tyche Wealth Partners LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $2,972,000. 79.77% of the stock is currently owned by institutional investors.
Illinois Tool Works Stock Up 0.4 %
Shares of ITW traded up $0.96 during midday trading on Monday, hitting $249.24. The stock had a trading volume of 1,629,618 shares, compared to its average volume of 1,246,454. The firm has a market cap of $74.46 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. The company has a 50 day simple moving average of $259.95 and a two-hundred day simple moving average of $251.70. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve 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 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.
Illinois Tool Works Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works's payout ratio is 57.49%.
Insider Buying and Selling
In related news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company's stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,471 shares of company stock worth $48,712,316. Company insiders own 1.26% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on ITW shares. Stifel Nicolaus increased their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, April 17th. Truist Financial assumed coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a "buy" rating and a $301.00 price target on the stock. Wells Fargo & Company downgraded 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 note on Tuesday, February 6th. Barclays increased their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an "underweight" rating in a research note on Tuesday, April 2nd. Finally, Citigroup increased their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. 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 stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus target price of $257.00.
Read Our Latest Research Report on ITW
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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