Haverford Trust Co cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 170,472 shares of the industrial products company's stock after selling 1,093 shares during the period. Haverford Trust Co owned 0.06% of Illinois Tool Works worth $43,225,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the period. State Street Corp increased its position in shares of Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after buying an additional 149,272 shares during the period. Geode Capital Management LLC raised its stake in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after buying an additional 95,925 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Illinois Tool Works by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company's stock valued at $638,205,000 after acquiring an additional 32,607 shares in the last quarter. Institutional investors own 79.77% of the company's stock.
Insider Buying and Selling
In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 transaction, the director now owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction dated Friday, March 7th. The shares were 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 owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. 1.26% of the stock is owned by insiders.
Illinois Tool Works Stock Down 2.2 %
NYSE ITW traded down $5.62 during mid-day trading on Friday, reaching $246.34. The stock had a trading volume of 939,536 shares, compared to its average volume of 977,693. The stock has a market cap of $72.30 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. 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 company has a fifty day moving average price of $258.40 and a 200 day moving average price of $260.64.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.
Analysts Set New Price Targets
A number of research analysts have recently commented on ITW shares. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Evercore ISI lowered their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $268.30.
Check Out Our Latest Stock Analysis on Illinois Tool Works
About Illinois Tool Works
(
Free Report)
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.
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