Brown Brothers Harriman & Co. Has $38.01 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Brown Brothers Harriman & Co. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,902 shares of the industrial products company's stock after selling 3,765 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.05% of Illinois Tool Works worth $38,009,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Illinois Tool Works by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after acquiring an additional 94,601 shares during the period. State Street Corp boosted its stake in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC grew its position 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 worth $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after purchasing an additional 95,925 shares during the period. Finally, Norges Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $806,291,000. Institutional investors own 79.77% of the company's stock.

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Insider Activity at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78 % 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, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company's stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. 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. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $3.96 during trading on Wednesday, hitting $252.66. The company had a trading volume of 373,548 shares, compared to its average volume of 978,048. The company has a market cap of $74.12 billion, a P/E ratio of 21.56, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The business's 50-day moving average is $257.99 and its 200 day moving average is $260.81. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on ITW. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Finally, Barclays decreased their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $268.30.

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.