Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 89,065 shares of the industrial products company’s stock after selling 673 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Illinois Tool Works were worth $22,583,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated 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 directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $260.09.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $233.44 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a market capitalization of $68.48 billion, a PE ratio of 19.92, a P/E/G ratio of 4.56 and a beta of 1.12. The business’s 50 day moving average price is $251.88 and its 200-day moving average price is $258.72.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.57%. Illinois Tool Works’s dividend payout ratio is presently 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.