Illinois Tool Works Inc. (NYSE:ITW) Position Reduced by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 69.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,275 shares of the industrial products company’s stock after selling 2,950 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Illinois Tool Works were worth $334,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares during the last quarter. Northern Trust Corp increased its stake in Illinois Tool Works by 1.9% during the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after purchasing an additional 244,145 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Illinois Tool Works by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after purchasing an additional 97,568 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Illinois Tool Works by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock valued at $773,234,000 after buying an additional 122,840 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock valued at $401,352,000 after buying an additional 22,238 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 45,676 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the sale, the chairman now owns 221,015 shares in the company, valued at $56,606,361.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Ernest Scott Santi sold 45,676 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.12, for a total value of $11,698,537.12. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,606,361.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,471 shares of company stock worth $23,248,816. 1.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ITW has been the subject of a number of research reports. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $257.78.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $0.32 on Friday, reaching $250.05. 197,904 shares of the stock were exchanged, compared to its average volume of 1,220,439. The firm has a fifty day moving average price of $257.61 and a two-hundred day moving average price of $252.28. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The stock has a market cap of $74.61 billion, a PE ratio of 24.64, a PEG ratio of 3.59 and a beta of 1.14. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is presently 55.23%.

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.