Wellington Management Group LLP Has $1.76 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Wellington Management Group LLP lowered its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 59.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,937 shares of the industrial products company's stock after selling 10,034 shares during the period. Wellington Management Group LLP's holdings in Illinois Tool Works were worth $1,759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITW. O Shaughnessy Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 22.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 71,371 shares of the industrial products company's stock valued at $18,097,000 after acquiring an additional 13,231 shares in the last quarter. Clearbridge Investments LLC grew its stake in Illinois Tool Works by 1.3% during the 4th quarter. Clearbridge Investments LLC now owns 305,762 shares of the industrial products company's stock valued at $77,529,000 after purchasing an additional 3,911 shares in the last quarter. RWA Wealth Partners LLC raised its holdings in Illinois Tool Works by 1.3% in the fourth quarter. RWA Wealth Partners LLC now owns 11,257 shares of the industrial products company's stock valued at $2,854,000 after acquiring an additional 144 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Illinois Tool Works by 13.5% during the fourth quarter. Schroder Investment Management Group now owns 1,721,920 shares of the industrial products company's stock worth $436,214,000 after purchasing an additional 205,327 shares during the last quarter. Finally, Allianz SE acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $181,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ITW shares. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday. Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Stifel Nicolaus lowered their target price on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $260.09.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $0.88 during midday trading on Friday, reaching $230.68. 889,342 shares of the company traded hands, compared to its average volume of 1,003,979. The firm has a market cap of $67.67 billion, a PE ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. 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 50-day simple moving average is $249.80 and its 200-day simple moving average is $257.91. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results 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 return on equity of 95.39% and a net margin of 21.94%. As a group, equities 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Illinois Tool Works Company 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.