Unigestion Holding SA Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Unigestion Holding SA cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,891 shares of the industrial products company’s stock after selling 22,392 shares during the period. Illinois Tool Works comprises approximately 1.8% of Unigestion Holding SA’s portfolio, making the stock its 16th largest position. Unigestion Holding SA’s holdings in Illinois Tool Works were worth $30,907,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup decreased their price objective 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. Barclays dropped their target price on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $268.30.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $225.25 on Friday. The company’s fifty day moving average is $256.77 and its two-hundred day moving average is $260.44. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $66.08 billion, a P/E ratio of 19.22, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $224.94 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate 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 forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.66%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

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.