Sanibel Captiva Trust Company Inc. Sells 1,421 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sanibel Captiva Trust Company Inc. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,296 shares of the industrial products company's stock after selling 1,421 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Illinois Tool Works were worth $12,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock worth $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Geode Capital Management LLC boosted its stake in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC grew its position in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock worth $877,234,000 after purchasing an additional 135,023 shares in the last quarter. Legal & General Group Plc raised its stake in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock valued at $640,425,000 after purchasing an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock worth $484,685,000 after buying an additional 32,656 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.2 %

NYSE ITW traded up $0.57 during trading on Friday, hitting $256.50. 844,760 shares of the company traded hands, compared to its average volume of 768,759. The company has a market capitalization of $75.74 billion, a P/E ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11. The business has a fifty day simple moving average of $264.26 and a 200 day simple moving average of $255.59. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company's revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ITW shares. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and boosted their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $270.11.

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.