Mather Group LLC. Sells 483 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mather Group LLC. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,876 shares of the industrial products company’s stock after selling 483 shares during the quarter. Mather Group LLC.’s holdings in Illinois Tool Works were worth $13,850,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in shares of Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Illinois Tool Works by 23,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after acquiring an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 77.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after acquiring an additional 260,679 shares in the last quarter. Finally, Barclays PLC increased its holdings in Illinois Tool Works by 57.1% in the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock worth $161,131,000 after purchasing an additional 254,321 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.7 %

Illinois Tool Works stock traded up $1.62 during mid-day trading on Monday, reaching $249.90. The stock had a trading volume of 399,108 shares, compared to its average volume of 1,230,254. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The stock’s 50-day simple moving average is $260.04 and its 200-day simple moving average is $251.59. The firm has a market capitalization of $74.66 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.34 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is currently 57.49%.

Analyst Ratings Changes

A number of analysts have recently commented on ITW shares. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Citigroup raised their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $257.00.

Insiders Place Their Bets

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. 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 three months. 1.26% of the stock is currently owned by insiders.

Illinois Tool Works Company 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.