Wealthspire Advisors LLC Sells 251 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wealthspire Advisors LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 11,849 shares of the industrial products company’s stock after selling 251 shares during the quarter. Wealthspire Advisors LLC’s holdings in Illinois Tool Works were worth $3,004,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in Illinois Tool Works by 66.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock worth $6,077,000 after buying an additional 9,271 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Illinois Tool Works by 12.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock worth $2,446,000 after buying an additional 1,000 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in Illinois Tool Works by 7.6% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,337 shares of the industrial products company’s stock worth $612,000 after buying an additional 166 shares in the last quarter. Outlook Wealth Advisors LLC lifted its position in Illinois Tool Works by 9.9% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 1,381 shares of the industrial products company’s stock worth $362,000 after buying an additional 124 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Illinois Tool Works by 14.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,884 shares of the industrial products company’s stock worth $8,152,000 after buying an additional 3,797 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ITW. Evercore ISI cut their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut 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. Barclays cut their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Down 0.5 %

Shares of ITW opened at $264.30 on Monday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market cap of $77.57 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The firm’s 50-day simple moving average is $257.08 and its 200 day simple moving average is $258.58. 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 (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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, 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 will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.