Rockefeller Capital Management L.P. Sells 1,477 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Rockefeller Capital Management L.P. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,770 shares of the industrial products company's stock after selling 1,477 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Illinois Tool Works were worth $22,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares during the period. Heritage Trust Co acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $5,460,000. Argent Trust Co raised its holdings in shares of Illinois Tool Works by 0.5% during the fourth quarter. Argent Trust Co now owns 24,792 shares of the industrial products company's stock valued at $6,286,000 after buying an additional 122 shares during the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Illinois Tool Works by 14.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 882 shares of the industrial products company's stock worth $224,000 after buying an additional 108 shares during the period. Finally, Redwood Park Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

ITW stock traded up $0.88 during mid-day trading on Friday, reaching $230.68. 889,342 shares of the stock traded hands, compared to its average volume of 1,003,209. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $67.67 billion, a PE ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. The business has a 50-day moving average of $250.36 and a two-hundred day moving average of $258.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ITW shares. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research note on Monday. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Barclays reduced their price target on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $260.09.

About Illinois Tool Works

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.