Victory Capital Management Inc. Has $47.34 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Victory Capital Management Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 15.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 186,715 shares of the industrial products company's stock after selling 33,547 shares during the period. Victory Capital Management Inc. owned about 0.06% of Illinois Tool Works worth $47,343,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Pensionfund Sabic increased its position in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $1,729,000. Czech National Bank increased its holdings in shares of Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $1,179,000. Institutional investors and hedge funds own 79.77% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have commented on ITW shares. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday, December 6th. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $269.30.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $9.78 on Friday, hitting $274.89. 2,321,003 shares of the company's stock were exchanged, compared to its average volume of 1,054,398. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a 50 day moving average of $257.54 and a 200 day moving average of $260.05. 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 stock has a market cap of $80.68 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. Illinois Tool Works's payout ratio is presently 51.19%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company's stock.

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.