Cohen Klingenstein LLC Sells 2,500 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cohen Klingenstein LLC reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,601 shares of the industrial products company's stock after selling 2,500 shares during the quarter. Illinois Tool Works accounts for 0.5% of Cohen Klingenstein LLC's portfolio, making the stock its 28th biggest holding. Cohen Klingenstein LLC's holdings in Illinois Tool Works were worth $13,845,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ITW. Howard Financial Services LTD. bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $231,000. Verity & Verity LLC boosted its stake in shares of Illinois Tool Works by 307.5% in the 4th quarter. Verity & Verity LLC now owns 3,366 shares of the industrial products company's stock worth $854,000 after buying an additional 2,540 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Illinois Tool Works by 11.7% in the fourth quarter. Arkadios Wealth Advisors now owns 21,203 shares of the industrial products company's stock worth $5,376,000 after acquiring an additional 2,217 shares during the period. Carderock Capital Management Inc. increased its position in Illinois Tool Works by 0.6% during the fourth quarter. Carderock Capital Management Inc. now owns 21,358 shares of the industrial products company's stock valued at $5,416,000 after acquiring an additional 134 shares during the last quarter. Finally, Somerset Trust Co lifted its holdings in Illinois Tool Works by 2.4% in the fourth quarter. Somerset Trust Co now owns 19,284 shares of the industrial products company's stock valued at $4,890,000 after acquiring an additional 461 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ITW shares. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised their target price 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, Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has an average rating of "Hold" and a consensus target price of $270.11.

Illinois Tool Works Trading Up 0.2 %

NYSE ITW traded up $0.57 on Friday, hitting $256.50. 844,760 shares of the stock were exchanged, compared to its average volume of 768,759. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market capitalization of $75.74 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a fifty day moving average price of $264.26 and a two-hundred day moving average price of $255.59.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. During the same period in the prior year, the firm posted $2.55 EPS. The firm's revenue was down 1.6% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

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.