Whittier Trust Co. Has $8.77 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Whittier Trust Co. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,595 shares of the industrial products company's stock after selling 3,916 shares during the quarter. Whittier Trust Co.'s holdings in Illinois Tool Works were worth $8,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares during the last quarter. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth $37,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ITW. Truist Financial raised 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Finally, Evercore ISI cut their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $269.10.

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Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction 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. The trade was 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 the 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 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. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last ninety days. Insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE:ITW traded down $0.71 during midday trading on Tuesday, reaching $254.93. The company had a trading volume of 786,043 shares, compared to its average volume of 932,129. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $74.82 billion, a PE ratio of 21.75, a P/E/G ratio of 4.56 and a beta of 1.13. 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 business's 50 day moving average price is $258.60 and its 200 day moving average price is $260.66.

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 the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts forecast 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 will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

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.