Atria Wealth Solutions Inc. Sells 1,020 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Atria Wealth Solutions Inc. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,751 shares of the industrial products company's stock after selling 1,020 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Illinois Tool Works were worth $4,258,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after buying an additional 398,676 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock worth $847,610,000 after buying an additional 322,192 shares during the last quarter. National Bank of Canada FI increased its holdings in Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after purchasing an additional 308,935 shares during the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company's stock valued at $48,945,000 after purchasing an additional 165,607 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their price target 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. Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $269.30.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $1.25 during midday trading on Friday, reaching $264.30. The company's stock had a trading volume of 918,393 shares, compared to its average volume of 965,335. 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 $257.23 and a 200 day moving average price of $258.12. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market cap of $77.57 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 4.52 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced 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%. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on 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 transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company's stock.

About Illinois Tool Works

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.