Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Stephens Inc. AR

Stephens Inc. AR trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,072 shares of the industrial products company's stock after selling 1,113 shares during the quarter. Stephens Inc. AR's holdings in Illinois Tool Works were worth $4,329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ITW. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Illinois Tool Works by 243.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,056 shares of the industrial products company's stock worth $541,000 after purchasing an additional 1,457 shares in the last quarter. Annex Advisory Services LLC boosted its position in Illinois Tool Works by 54.8% during the third quarter. Annex Advisory Services LLC now owns 1,695 shares of the industrial products company's stock worth $444,000 after purchasing an additional 600 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Illinois Tool Works by 1,542.1% during the third quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company's stock worth $1,635,000 after purchasing an additional 5,860 shares in the last quarter. Smith Chas P & Associates PA Cpas purchased a new stake in Illinois Tool Works during the third quarter worth $19,417,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Illinois Tool Works by 5.9% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,583 shares of the industrial products company's stock worth $1,987,000 after purchasing an additional 421 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an "in-line" rating to an "underperform" rating and boosted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $271.00.

Illinois Tool Works Trading Down 0.8 %

Illinois Tool Works stock traded down $2.11 during trading on Friday, hitting $257.98. The company's stock had a trading volume of 1,013,793 shares, compared to its average volume of 979,636. The stock has a market capitalization of $76.18 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The stock's fifty day moving average is $258.44 and its 200 day moving average is $257.58. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its 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 return on equity of 95.39% and a net margin of 21.94%. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.33%. 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.