TIAA Trust National Association Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

TIAA Trust National Association increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,577 shares of the industrial products company's stock after purchasing an additional 1,370 shares during the quarter. TIAA Trust National Association's holdings in Illinois Tool Works were worth $6,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC increased its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITW. Truist Financial raised 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. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $268.30.

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Illinois Tool Works Trading Down 2.2 %

Shares of Illinois Tool Works stock traded down $5.62 on Friday, hitting $246.34. 939,536 shares of the company's stock traded hands, compared to its average volume of 977,693. The company has a fifty day moving average of $258.40 and a two-hundred day moving average of $260.73. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

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 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, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, 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 transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction 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 directly owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last three months. Corporate insiders own 1.26% of the company's stock.

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.