Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Marshall Wace LLP

by · The Cerbat Gem

Marshall Wace LLP decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 212,443 shares of the industrial products company’s stock after selling 80,147 shares during the quarter. Marshall Wace LLP’s holdings in Illinois Tool Works were worth $53,867,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. Glass Jacobson Investment Advisors llc lifted its stake in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ITW. UBS Group cut their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating on the stock in a research note on Monday. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $260.09.

Check Out Our Latest Analysis on ITW

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred 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 in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW opened at $230.68 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a 50-day simple moving average of $250.36 and a 200-day simple moving average of $258.12. The company has a market capitalization of $67.67 billion, a PE ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its 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 net margin of 21.94% and a return on equity of 95.39%. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Illinois Tool Works Company Profile

(Free Report)

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.

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