Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,119 shares of the industrial products company’s stock after selling 1,149 shares during the period. Amalgamated Bank’s holdings in Illinois Tool Works were worth $14,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of 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 valued at $2,446,000 after buying an additional 1,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Illinois Tool Works by 14.0% in the third 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 during the last quarter. Boston Financial Mangement LLC raised its holdings in Illinois Tool Works by 8.6% in the third quarter. Boston Financial Mangement LLC now owns 10,795 shares of the industrial products company’s stock valued at $2,829,000 after acquiring an additional 858 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Illinois Tool Works by 3.5% during the 3rd quarter. Fidelis Capital Partners LLC now owns 3,200 shares of the industrial products company’s stock valued at $820,000 after acquiring an additional 107 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in Illinois Tool Works by 18.0% during the 3rd quarter. Evermay Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 188 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. dropped their price target on 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. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Stock Performance

Shares of ITW opened at $264.41 on Wednesday. The firm has a fifty day moving average of $256.84 and a 200-day moving average of $258.91. The company has a market cap of $77.60 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. 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 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 earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.26% of the stock is owned by company insiders.

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.