Mesirow Financial Investment Management Inc. Lowers Stake in Illinois Tool Works Inc. (NYSE:ITW)

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,448 shares of the industrial products company’s stock after selling 50 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Illinois Tool Works were worth $8,989,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at about $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $37,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW opened at $265.24 on Friday. The company has a 50 day moving average of $257.18 and a two-hundred day moving average of $259.71. The company has a market cap of $77.85 billion, a P/E ratio of 22.63, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. 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 (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. On average, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ITW. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $269.30.

Illinois Tool Works 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.