First Horizon Advisors Inc. Sells 148 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First Horizon Advisors Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,552 shares of the industrial products company’s stock after selling 148 shares during the period. First Horizon Advisors Inc.’s holdings in Illinois Tool Works were worth $407,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ITW. 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 valued at $6,035,292,000 after buying an additional 1,238,239 shares in the last quarter. Alecta Tjanstepension Omsesidigt raised 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 valued at $294,671,000 after acquiring an additional 675,000 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Illinois Tool Works by 23,183.6% during the fourth 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 in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 77.5% in the third quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after purchasing an additional 260,679 shares during the period. Finally, Barclays PLC grew its stake in Illinois Tool Works by 57.1% in the third 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. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.8 %

NYSE ITW opened at $243.92 on Friday. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a 50 day moving average price of $258.75 and a 200 day moving average price of $251.73. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The firm has a market cap of $72.87 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 3.57 and a beta of 1.14.

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

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,471 shares of company stock worth $35,970,816. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ITW. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lowered their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company lowered 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 research report on Wednesday. Finally, Truist Financial lifted their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $257.78.

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.