Unigestion Holding SA Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Unigestion Holding SA reduced its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,891 shares of the industrial products company's stock after selling 22,392 shares during the period. Illinois Tool Works accounts for about 1.8% of Unigestion Holding SA's holdings, making the stock its 16th biggest position. Unigestion Holding SA's holdings in Illinois Tool Works were worth $30,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $25,000. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. Millstone Evans Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $33,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ITW shares. Stifel Nicolaus dropped their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Evercore ISI reduced 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. JPMorgan Chase & Co. lowered 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. Finally, UBS Group decreased their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $264.09.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the firm's 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 transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $5.18 during trading hours on Friday, reaching $231.99. 546,398 shares of the company's stock were exchanged, compared to its average volume of 1,004,162. 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's 50 day moving average is $252.75 and its two-hundred day moving average is $259.13. The company has a market cap of $68.06 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.59%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Illinois Tool Works Company 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.