Voya Investment Management LLC Has $14.91 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Voya Investment Management LLC reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 58,805 shares of the industrial products company's stock after selling 4,472 shares during the quarter. Voya Investment Management LLC's holdings in Illinois Tool Works were worth $14,911,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth $28,000. Glass Jacobson Investment Advisors llc lifted its stake in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after buying an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $1.14 during midday trading on Thursday, reaching $238.77. The company's stock had a trading volume of 1,818,143 shares, compared to its average volume of 1,008,414. The company has a market cap of $70.05 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average price of $246.16 and a 200 day moving average price of $256.79.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the previous year, the firm posted $2.44 EPS. The company's quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Analyst Ratings Changes

Several analysts recently weighed in on ITW shares. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Truist Financial lowered their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday. Robert W. Baird boosted their price target on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $256.73.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 over the last 90 days. 0.88% of the stock is owned by company insiders.

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.