JPMorgan Chase & Co. Has $280.18 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

JPMorgan Chase & Co. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,104,996 shares of the industrial products company's stock after selling 52,807 shares during the period. JPMorgan Chase & Co. owned about 0.37% of Illinois Tool Works worth $280,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC grew its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at about $31,000. Atlantic Private Wealth LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

NYSE ITW traded down $11.22 during trading hours on Friday, hitting $228.22. The company had a trading volume of 304,737 shares, compared to its average volume of 1,074,221. Illinois Tool Works Inc. has a fifty-two week low of $230.66 and a fifty-two week high of $279.13. 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 firm has a market cap of $66.95 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business has a fifty day simple moving average of $257.46 and a 200-day simple moving average of $260.60.

Remove Ads

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.63%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Insider Buying and Selling

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works 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 completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % 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 valued at $42,973,845 over the last three months. Company insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Evercore ISI lowered their price target on 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. Stifel Nicolaus cut their price objective 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $268.30.

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.