Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,297 shares of the industrial products company's stock after selling 1,753 shares during the quarter. Evercore Wealth Management LLC's holdings in Illinois Tool Works were worth $6,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC grew its holdings 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 purchasing an additional 39 shares during the period. F M Investments LLC raised its stake in shares of Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 42 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after acquiring an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in 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 purchasing an additional 46 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in 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 purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ITW. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. UBS Group decreased their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $260.09.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $236.49 on Wednesday. The company has a market cap of $69.38 billion, a PE ratio of 20.18, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a fifty day moving average price of $248.77 and a two-hundred day moving average price of $257.50. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

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 earnings per share 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%. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.54%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Insider Buying and Selling

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 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 represents a 46.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were 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 of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 in the last three months. 0.88% of the stock is owned by 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.

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