Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 95.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,758 shares of the industrial products company's stock after selling 56,959 shares during the period. Congress Asset Management Co.'s holdings in Illinois Tool Works were worth $699,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Illinois Tool Works by 66.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company's stock valued at $6,077,000 after buying an additional 9,271 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Jade Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $1,310,000. Foundations Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 7.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company's stock valued at $400,000 after acquiring an additional 105 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Illinois Tool Works by 6.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company's stock valued at $1,651,000 after acquiring an additional 367 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 0.5 %

Shares of ITW stock traded down $1.25 during trading hours on Friday, reaching $264.30. 918,393 shares of the company's stock were exchanged, 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. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market cap of $77.57 billion, a PE ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11. The stock's fifty day moving average price is $257.23 and its two-hundred day moving average price is $258.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Research analysts predict that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITW. Robert W. Baird raised their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $269.30.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works 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 value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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.