Wealthspire Advisors LLC Sells 251 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wealthspire Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,849 shares of the industrial products company’s stock after selling 251 shares during the period. Wealthspire Advisors LLC’s holdings in Illinois Tool Works were worth $3,004,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ITW. Allspring Global Investments Holdings LLC raised its stake in shares of Illinois Tool Works by 66.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after acquiring an additional 9,271 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Illinois Tool Works by 12.0% in the third quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock valued at $2,446,000 after acquiring an additional 1,000 shares during the last quarter. Joel Isaacson & Co. LLC increased its holdings in shares of Illinois Tool Works by 7.6% in the third quarter. Joel Isaacson & Co. LLC now owns 2,337 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 166 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in shares of Illinois Tool Works by 9.9% in the third quarter. Outlook Wealth Advisors LLC now owns 1,381 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 124 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Illinois Tool Works by 14.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,884 shares of the industrial products company’s stock valued at $8,152,000 after purchasing an additional 3,797 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ITW shares. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $269.30.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works 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 of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $264.30 on Monday. The company has a fifty day moving average price of $257.08 and a two-hundred day moving average price of $258.58. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $77.57 billion, a PE ratio of 22.55, a P/E/G ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. 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.