Hsbc Holdings PLC Sells 42,639 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Hsbc Holdings PLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 605,458 shares of the industrial products company's stock after selling 42,639 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of Illinois Tool Works worth $153,515,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ITW. Baron Wealth Management LLC increased its position in Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after purchasing an additional 39 shares during the last quarter. F M Investments LLC increased its holdings in shares of Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after buying an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after acquiring an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in Illinois Tool Works by 0.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock worth $2,343,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of several analyst reports. Citigroup lowered their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI dropped 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, February 19th. JPMorgan Chase & Co. cut their price objective 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. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Barclays cut their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $260.09.

Illinois Tool Works Trading Up 3.9 %

Shares of NYSE ITW opened at $236.49 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm has a market cap of $69.38 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The business has a fifty day simple moving average of $248.77 and a two-hundred day simple moving average of $257.50. 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 - Get Free Report) last released its quarterly earnings data 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%. Analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Insider Buying and Selling

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company's stock.

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.

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