Dorsey & Whitney Trust CO LLC Has $2.36 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Dorsey & Whitney Trust CO LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,301 shares of the industrial products company’s stock after selling 420 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Illinois Tool Works were worth $2,358,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC raised its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $33,000. Hager Investment Management Services LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $37,000. Finally, Asset Planning Inc bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ITW. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI lowered their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on 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. Finally, Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $274.89 on Friday. The firm has a market capitalization of $80.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business has a 50-day simple moving average of $257.54 and a 200 day simple moving average of $260.05.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts anticipate 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 paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.