DRW Securities LLC Has $221,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

DRW Securities LLC trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 71.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 875 shares of the industrial products company's stock after selling 2,211 shares during the quarter. DRW Securities LLC's holdings in Illinois Tool Works were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock worth $6,675,473,000 after buying an additional 94,601 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after purchasing an additional 99,753 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Illinois Tool Works by 2.9% during 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. Norges Bank bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $806,291,000. Finally, Charles Schwab Investment Management Inc. grew its position in Illinois Tool Works by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company's stock valued at $638,205,000 after buying an additional 32,607 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Up 1.1 %

NYSE:ITW traded up $2.49 during trading hours on Thursday, hitting $232.29. 386,358 shares of the company's stock traded hands, compared to its average volume of 1,000,667. The firm has a market cap of $68.15 billion, a P/E ratio of 19.81, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 stock's fifty day moving average price is $250.90 and its two-hundred day moving average price is $258.34.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's dividend payout ratio is 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Evercore ISI lowered their price target on 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. Stifel Nicolaus cut their price objective on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a report on Monday. Citigroup lowered their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and a consensus price target of $260.09.

Insider Activity

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred 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 owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of 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 have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is 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.