Atria Wealth Solutions Inc. Cuts Position in Illinois Tool Works Inc. (NYSE:ITW)

Atria Wealth Solutions Inc. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,751 shares of the industrial products company’s stock after selling 1,020 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Illinois Tool Works were worth $4,258,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in Illinois Tool Works by 66.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after purchasing an additional 9,271 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in Illinois Tool Works by 7.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company’s stock worth $400,000 after buying an additional 105 shares during the period. Sequoia Financial Advisors LLC grew its stake in Illinois Tool Works by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company’s stock valued at $1,651,000 after buying an additional 367 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Illinois Tool Works during the 3rd quarter valued at $233,000. Finally, Private Advisor Group LLC lifted its position in shares of Illinois Tool Works by 3.5% during the third quarter. Private Advisor Group LLC now owns 44,762 shares of the industrial products company’s stock worth $11,731,000 after acquiring an additional 1,513 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ITW. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Evercore ISI lowered 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 research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Price Performance

ITW stock opened at $265.42 on Friday. The firm has a 50 day simple moving average of $257.23 and a two-hundred day simple moving average of $258.12. 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 $77.90 billion, a PE ratio of 22.65, a P/E/G ratio of 4.49 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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%. On average, analysts predict that Illinois Tool Works Inc. will post 10.41 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. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.26%. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.