Russell Investments Group Ltd. Sells 1,618 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Russell Investments Group Ltd. decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 156,822 shares of the industrial products company’s stock after selling 1,618 shares during the period. Russell Investments Group Ltd. owned 0.05% of Illinois Tool Works worth $41,076,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Northern Trust Corp boosted its position in shares of Illinois Tool Works by 1.9% in the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after acquiring an additional 244,145 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Illinois Tool Works by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after acquiring an additional 97,568 shares in the last quarter. Stifel Financial Corp increased its position in Illinois Tool Works by 1.3% during the third quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after acquiring an additional 22,238 shares during the period. Finally, Alecta Tjanstepension Omsesidigt boosted its holdings in Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares during the period. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Barclays upped their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Truist Financial began coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $257.00.

Illinois Tool Works Stock Up 0.4 %

ITW stock opened at $249.24 on Tuesday. The firm has a 50-day moving average price of $259.95 and a 200-day moving average price of $251.70. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $74.46 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. Illinois Tool Works’s payout ratio is presently 57.49%.

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.