Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Mitsubishi UFJ Trust & Banking Corp reduced its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,522 shares of the industrial products company's stock after selling 24,526 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Illinois Tool Works worth $58,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Baron Wealth Management LLC increased its holdings in shares of 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 period. Harbour Investments Inc. increased its stake in Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC raised 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 in the last quarter. Valmark Advisers Inc. boosted its position in shares of Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after acquiring an additional 47 shares during the last quarter. Finally, Lyell Wealth Management LP grew its holdings in shares of Illinois Tool Works by 4.9% during the fourth quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company's stock worth $254,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

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Illinois Tool Works Trading Down 2.2 %

ITW stock traded down $5.62 during midday trading on Friday, hitting $246.34. The company had a trading volume of 939,536 shares, compared to its average volume of 977,693. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The stock has a market cap of $72.30 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. The stock's 50 day moving average price is $258.40 and its 200 day moving average price is $260.73.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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%. As a group, equities research 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 will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction 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. The trade was a 45.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. 1.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITW shares. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price 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. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Barclays reduced their price objective on Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus dropped their target price on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $268.30.

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.