American Institute for Advanced Investment Management LLP Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

American Institute for Advanced Investment Management LLP trimmed its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,997 shares of the industrial products company’s stock after selling 1,115 shares during the quarter. Illinois Tool Works accounts for 1.9% of American Institute for Advanced Investment Management LLP’s holdings, making the stock its 10th largest holding. American Institute for Advanced Investment Management LLP’s holdings in Illinois Tool Works were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ITW. Cibc World Market Inc. grew its stake in shares of Illinois Tool Works by 3.7% during the first quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock worth $2,024,000 after buying an additional 348 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Illinois Tool Works by 4.2% in the first quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock valued at $1,899,000 after buying an additional 368 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Illinois Tool Works by 54.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock valued at $599,000 after buying an additional 1,011 shares during the period. Zions Bancorporation N.A. lifted its holdings in Illinois Tool Works by 9.9% in the first quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock valued at $504,000 after buying an additional 217 shares during the period. Finally, Covestor Ltd increased its stake in Illinois Tool Works by 70.7% in the first quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 309 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 in the last quarter. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.1 %

ITW opened at $264.25 on Thursday. The stock has a market cap of $78.94 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.53 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The company’s 50-day moving average price is $261.08 and its two-hundred day moving average price is $249.00. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research analyst reports. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Barclays boosted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $246.10.

Get Our Latest Research Report on Illinois Tool Works

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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