Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 676,727 shares of the industrial products company’s stock after selling 23,456 shares during the period. Bahl & Gaynor Inc. owned about 0.23% of Illinois Tool Works worth $171,591,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Pensionfund Sabic increased its holdings in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank boosted its stake in Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth about $1,179,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITW. Stifel Nicolaus decreased their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Truist Financial boosted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $269.30.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were 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 of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $261.96 on Tuesday. The company has a market cap of $76.89 billion, a PE ratio of 22.35, a price-to-earnings-growth 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 company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average price of $257.09 and a two-hundred day moving average price of $259.57.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is 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.