Congress Wealth Management LLC DE Lowers Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Congress Wealth Management LLC DE lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 79.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,246 shares of the industrial products company's stock after selling 46,835 shares during the quarter. Congress Wealth Management LLC DE's holdings in Illinois Tool Works were worth $3,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baron Wealth Management LLC raised its position in shares of Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after acquiring an additional 39 shares in the last quarter. Harbour Investments Inc. raised its holdings in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after buying an additional 46 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in shares of Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after buying an additional 47 shares in the last quarter. Finally, Lyell Wealth Management LP raised its stake in Illinois Tool Works by 4.9% during the 4th quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company's stock worth $254,000 after acquiring an additional 47 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated 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 sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $1.85 during trading hours on Monday, reaching $248.31. 1,546,351 shares of the stock were exchanged, compared to its average volume of 979,959. The stock has a market cap of $72.84 billion, a P/E ratio of 21.19, a P/E/G ratio of 4.56 and a beta of 1.13. The firm's 50 day moving average is $258.24 and its 200 day moving average is $260.83. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. 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 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%. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Citigroup dropped their price target on 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. Barclays reduced their price objective on Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently 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.