Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,272 shares of the industrial products company’s stock after selling 868 shares during the period. Advisors Asset Management Inc.’s holdings in Illinois Tool Works were worth $11,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC boosted its holdings 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 valued at $30,000 after acquiring an additional 106 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $33,000. Hager Investment Management Services LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $37,000. Finally, Asset Planning Inc acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $256.17 on Tuesday. The stock’s 50-day moving average price is $257.95 and its two-hundred day moving average price is $260.47. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $75.19 billion, a PE ratio of 21.86, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 annualized dividend and a yield of 2.34%. Illinois Tool Works’s payout ratio is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated 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 transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated 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 transaction, the director now directly 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. In the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of 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 downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $269.10.

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.