Atria Wealth Solutions Inc. Sells 1,020 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Atria Wealth Solutions Inc. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,751 shares of the industrial products company’s stock after selling 1,020 shares during the period. Atria Wealth Solutions Inc.’s holdings in Illinois Tool Works were worth $4,258,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after purchasing an additional 322,192 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the period. Geode Capital Management LLC raised its holdings in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Illinois Tool Works by 787.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after buying an additional 165,607 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $265.42 on Friday. The business’s fifty day moving average is $257.23 and its 200 day moving average is $258.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market cap of $77.90 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 4.49 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Research analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is 51.19%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, Truist Financial raised their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $269.30.

About Illinois Tool Works

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.