BOK Financial Private Wealth Inc. Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

BOK Financial Private Wealth Inc. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251 shares of the industrial products company’s stock after selling 46 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Illinois Tool Works were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ITW. Capital Performance Advisors LLP purchased a new stake in Illinois Tool Works during the 3rd quarter valued at $69,000. CWA Asset Management Group LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at $2,672,000. Verdence Capital Advisors LLC raised its stake in Illinois Tool Works by 2.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,808 shares of the industrial products company’s stock valued at $2,570,000 after buying an additional 218 shares during the last quarter. Assetmark Inc. increased its stake in shares of Illinois Tool Works by 6.4% in the 3rd quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 114 shares in the last quarter. Finally, Essex Savings Bank increased its stake in shares of Illinois Tool Works by 2.1% in the 3rd quarter. Essex Savings Bank now owns 4,098 shares of the industrial products company’s stock worth $1,074,000 after purchasing an additional 85 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 3.7 %

Shares of Illinois Tool Works stock opened at $274.89 on Monday. The company has a fifty day moving average of $257.54 and a 200 day moving average of $260.15. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market capitalization of $80.68 billion, a P/E ratio of 23.45, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Evercore ISI reduced their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

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.