Cooke & Bieler LP Has $380,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cooke & Bieler LP reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the industrial products company’s stock after selling 100 shares during the period. Cooke & Bieler LP’s holdings in Illinois Tool Works were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Assetmark Inc. grew 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 valued at $499,000 after buying an additional 114 shares in the last quarter. XML Financial LLC increased its stake in shares of Illinois Tool Works by 2.7% during the 3rd quarter. XML Financial LLC now owns 3,668 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd lifted its stake in shares of Illinois Tool Works by 16.6% in the 3rd quarter. Covestor Ltd now owns 366 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 52 shares during the last quarter. Sigma Planning Corp increased its position in Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 4.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,462 shares of the industrial products company’s stock worth $3,528,000 after acquiring an additional 531 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ITW shares. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Truist Financial upped their price target 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 cut 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. Finally, Evercore ISI cut 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $269.10.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Down 2.6 %

ITW stock opened at $267.47 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market capitalization of $78.50 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 4.56 and a beta of 1.13. The business has a fifty day moving average price of $257.80 and a 200 day moving average price of $260.30. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS 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%. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.