Rathbones Group PLC Sells 10,334 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Rathbones Group PLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,223 shares of the industrial products company's stock after selling 10,334 shares during the period. Rathbones Group PLC's holdings in Illinois Tool Works were worth $22,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at $28,000. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $31,000. Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $33,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 2.5 %

NYSE:ITW traded up $5.59 on Friday, hitting $232.40. 1,451,463 shares of the stock were exchanged, compared to its average volume of 1,006,739. The stock has a market capitalization of $68.18 billion, a price-to-earnings ratio of 19.83, a P/E/G 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. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company's 50-day moving average price is $252.30 and its 200 day moving average price is $258.93.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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 forecast 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.58%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Truist Financial increased their price target 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. Barclays cut their price objective on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a research report on Thursday. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced 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 research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works has an average rating of "Hold" and a consensus target price of $264.09.

Insider Buying and Selling

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. Company insiders own 0.88% of the company's stock.

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.