Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Cut by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,080 shares of the industrial products company’s stock after selling 7,782 shares during the period. Guggenheim Capital LLC’s holdings in Illinois Tool Works were worth $18,023,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $3,004,000. XTX Topco Ltd acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $1,026,000. SageView Advisory Group LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $407,000. Savvy Advisors Inc. increased its holdings in shares of Illinois Tool Works by 6.5% in the fourth quarter. Savvy Advisors Inc. now owns 1,500 shares of the industrial products company’s stock valued at $380,000 after buying an additional 91 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Illinois Tool Works by 2.9% during the 4th quarter. Synovus Financial Corp now owns 2,809 shares of the industrial products company’s stock valued at $712,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ITW shares. UBS Group cut their target price on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Truist Financial raised their target price 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. Evercore ISI cut their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $260.09.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 in the last 90 days. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Down 0.9 %

Illinois Tool Works stock opened at $231.54 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company’s fifty day simple moving average is $251.41 and its 200-day simple moving average is $258.53. The stock has a market cap of $67.92 billion, a P/E ratio of 19.76, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its 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 return on equity of 95.39% and a net margin of 21.94%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Illinois Tool Works Company 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.