Aristotle Capital Management LLC Has $107.45 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Aristotle Capital Management LLC trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423,762 shares of the industrial products company’s stock after selling 40,555 shares during the period. Aristotle Capital Management LLC owned approximately 0.14% of Illinois Tool Works worth $107,449,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ITW. Pensionfund Sabic boosted its position in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after buying an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new stake in Illinois Tool Works in the fourth quarter worth about $1,729,000. Czech National Bank raised its holdings in Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in Illinois Tool Works by 31.6% during the 4th quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company’s stock valued at $3,976,000 after purchasing an additional 3,765 shares during the period. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ITW shares. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a research note on Thursday. Barclays dropped their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research report on Thursday. Truist Financial reduced their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $256.73.

Illinois Tool Works Stock Performance

ITW opened at $242.26 on Friday. 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 company has a market capitalization of $71.07 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 4.56 and a beta of 1.12. The business’s 50-day moving average price is $245.26 and its two-hundred day moving average price is $256.50. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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.