US Bancorp DE Sells 2,835 Shares of Illinois Tool Works Inc. (NYSE:ITW)

US Bancorp DE reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 274,913 shares of the industrial products company's stock after selling 2,835 shares during the quarter. US Bancorp DE owned approximately 0.09% of Illinois Tool Works worth $69,707,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITW. Pensionfund Sabic lifted its position in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in 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 worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc bought a new stake in Illinois Tool Works in the 4th quarter valued at $1,729,000. Czech National Bank grew its holdings in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock valued at $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth $1,179,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several research reports. 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 research note on Thursday, December 19th. Barclays decreased their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Citigroup dropped their price target 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. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Two equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $269.30.

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Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $5.82 on Wednesday, hitting $261.14. 1,351,865 shares of the company's stock were exchanged, compared to its average volume of 1,013,016. The company has a 50 day moving average of $257.05 and a 200 day moving average of $259.68. The stock has a market cap of $76.65 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. 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 Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS 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, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is 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.