Intech Investment Management LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 58.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,431 shares of the industrial products company's stock after selling 10,568 shares during the period. Intech Investment Management LLC's holdings in Illinois Tool Works were worth $1,884,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $203,949,000. Proficio Capital Partners LLC boosted its stake in Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after purchasing an additional 437,397 shares during the period. Franklin Resources Inc. grew its holdings in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. National Bank of Canada FI increased its position in Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock worth $106,352,000 after buying an additional 308,935 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.
Insider Activity
In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ITW shares. Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. 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. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $269.10.
Read Our Latest Report on ITW
Illinois Tool Works Price Performance
Shares of ITW stock traded down $0.71 on Tuesday, hitting $254.93. 786,043 shares of the company's stock were exchanged, compared to its average volume of 932,129. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a 50 day moving average of $258.60 and a 200 day moving average of $260.66. The stock has a market cap of $74.82 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.
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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.
About Illinois Tool Works
(
Free Report)
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.
Featured Articles
Before you consider Illinois Tool Works, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Illinois Tool Works wasn't on the list.
While Illinois Tool Works currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
