Illinois Tool Works Inc. (NYSE:ITW) Stake Trimmed by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,467 shares of the industrial products company's stock after selling 2,138 shares during the period. Illinois Tool Works makes up 1.1% of Horan Capital Advisors LLC.'s investment portfolio, making the stock its 26th largest holding. Horan Capital Advisors LLC.'s holdings in Illinois Tool Works were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC boosted its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Illinois Tool Works during the fourth quarter worth $37,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

ITW traded up $9.78 on Friday, hitting $274.89. 2,321,003 shares of the company's stock were exchanged, compared to its average volume of 1,054,398. The firm has a market cap of $80.68 billion, a PE ratio of 23.45, a P/E/G ratio of 4.56 and a beta of 1.13. The stock has a fifty day moving average of $257.18 and a two-hundred day moving average of $259.71. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works 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 transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ITW. Evercore ISI cut their price target on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. 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. Citigroup dropped their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Barclays reduced their price objective on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a research note on Friday, February 7th. Finally, Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have assigned 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, the stock has a consensus rating of "Hold" and an average price target of $269.30.

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.