Envestnet Asset Management Inc. Has $165.01 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Envestnet Asset Management Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 650,786 shares of the industrial products company’s stock after selling 8,220 shares during the period. Envestnet Asset Management Inc. owned about 0.22% of Illinois Tool Works worth $165,013,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at $31,000. Atlantic Private Wealth LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth about $33,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 5.9 %

Shares of NYSE ITW opened at $225.25 on Monday. 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 twelve month low of $212.88 and a twelve month high of $279.13. The company’s fifty day moving average is $256.77 and its 200-day moving average is $260.49. The stock has a market cap of $66.08 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last posted 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 return on equity of 95.39% and a net margin of 21.94%. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Evercore ISI cut their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $268.30.

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.