Victory Capital Management Inc. Sells 33,547 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Victory Capital Management Inc. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,715 shares of the industrial products company’s stock after selling 33,547 shares during the period. Victory Capital Management Inc.’s holdings in Illinois Tool Works were worth $47,343,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $33,000. Hager Investment Management Services LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $37,000. Finally, Asset Planning Inc acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $40,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on ITW shares. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Barclays lowered their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Wells Fargo & Company dropped their price target 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, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $269.30.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents 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 Stock Up 3.7 %

ITW stock opened at $274.89 on Friday. The company has a market cap of $80.68 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business has a 50 day moving average price of $257.54 and a two-hundred day moving average price of $260.05. 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 (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Analysts anticipate 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. Investors of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.18%. 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.