Corient Private Wealth LLC Sells 553,896 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Corient Private Wealth LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 46.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 632,823 shares of the industrial products company's stock after selling 553,896 shares during the quarter. Corient Private Wealth LLC owned about 0.21% of Illinois Tool Works worth $160,460,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ITW. Raymond James Financial Inc. bought a new stake in Illinois Tool Works in the 4th quarter valued at $203,949,000. Proficio Capital Partners LLC lifted its position in shares of Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after acquiring an additional 437,397 shares during the period. Franklin Resources Inc. lifted its position 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 valued at $358,321,000 after acquiring an additional 398,676 shares during the period. National Bank of Canada FI lifted its position in shares of Illinois Tool Works by 318.9% during 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 acquiring an additional 308,935 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 2.7% during 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 acquiring an additional 167,422 shares during the period. 79.77% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITW. JPMorgan Chase & Co. cut their target price 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. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays set a $260.00 target price on Illinois Tool Works and gave the company an "equal weight" rating in a research report on Monday, March 10th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Finally, Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $269.10.

Illinois Tool Works Price Performance

ITW traded down $3.05 on Thursday, reaching $253.19. The stock had a trading volume of 842,496 shares, compared to its average volume of 932,125. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a 50-day moving average of $258.24 and a 200-day moving average of $260.45. 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 market capitalization of $74.31 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.37%. Illinois Tool Works's payout ratio is presently 51.19%.

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.