Orion Portfolio Solutions LLC Has $6.44 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Orion Portfolio Solutions LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,410 shares of the industrial products company’s stock after selling 571 shares during the period. Orion Portfolio Solutions LLC’s holdings in Illinois Tool Works were worth $6,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ITW. Baron Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 39 shares during the period. Harbour Investments Inc. grew its position in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after buying an additional 46 shares in the last quarter. Valmark Advisers Inc. boosted its stake in shares of Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 47 shares during the period. Finally, Lyell Wealth Management LP grew its holdings in shares of Illinois Tool Works by 4.9% during the 4th quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 47 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ITW. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus dropped 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 note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $268.30.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the company’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 of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $246.34 on Friday. The firm has a market capitalization of $72.30 billion, a PE ratio of 21.02, 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. 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 firm’s fifty day simple moving average is $258.40 and its 200 day simple moving average is $260.73.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. Illinois Tool Works’s dividend payout ratio is 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.