Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,612 shares of the industrial products company’s stock after selling 82 shares during the quarter. Illinois Tool Works accounts for approximately 1.0% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 21st largest holding. Argonautica Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $3,198,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings 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 worth $2,446,000 after buying an additional 1,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Illinois Tool Works by 14.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,884 shares of the industrial products company’s stock worth $8,152,000 after acquiring an additional 3,797 shares during the last quarter. Boston Financial Mangement LLC lifted its position in Illinois Tool Works by 8.6% during the 3rd quarter. Boston Financial Mangement LLC now owns 10,795 shares of the industrial products company’s stock worth $2,829,000 after acquiring an additional 858 shares during the period. Fidelis Capital Partners LLC grew its stake in Illinois Tool Works by 3.5% during the 3rd quarter. Fidelis Capital Partners LLC now owns 3,200 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 107 shares during the last quarter. Finally, Evermay Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 18.0% in the third quarter. Evermay Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ITW. Evercore ISI dropped their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group upped 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. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Up 1.1 %

Shares of ITW opened at $264.41 on Wednesday. The firm has a market cap of $77.60 billion, a P/E ratio of 22.56, a PEG ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock’s 50 day moving average is $256.84 and its two-hundred day moving average is $258.91. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS 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%. Analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% of the company’s stock.

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.