Illinois Tool Works Inc. (NYSE:ITW) Position Lowered by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,410 shares of the industrial products company’s stock after selling 571 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Illinois Tool Works were worth $6,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baron Wealth Management LLC raised its position in shares of Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after buying an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the period. Valmark Advisers Inc. grew its position in shares of Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 47 shares during the last quarter. Finally, Lyell Wealth Management LP lifted its holdings in Illinois Tool Works by 4.9% in the fourth quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $246.34 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a market capitalization of $72.30 billion, a PE ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13. The company’s 50 day simple moving average is $258.40 and its 200 day simple moving average is $260.73. 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 (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insider Buying and Selling

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last ninety days. 1.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. Evercore ISI dropped their price target 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. Truist Financial increased their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company decreased 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $268.30.

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.