Illinois Tool Works Inc. (NYSE:ITW) Stake Lowered by Stonnington Group LLC

Stonnington Group LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,970 shares of the industrial products company’s stock after selling 320 shares during the quarter. Stonnington Group LLC’s holdings in Illinois Tool Works were worth $2,723,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Briar Hall Management LLC grew its holdings in shares of Illinois Tool Works by 2.0% during the third quarter. Briar Hall Management LLC now owns 26,352,224 shares of the industrial products company’s stock valued at $4,760,529,000 after purchasing an additional 520,540 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Illinois Tool Works by 0.8% during the third quarter. Vanguard Group Inc. now owns 25,609,537 shares of the industrial products company’s stock valued at $4,626,363,000 after purchasing an additional 215,823 shares during the last quarter. State Street Corp grew its holdings in shares of Illinois Tool Works by 1.5% during the second quarter. State Street Corp now owns 12,821,085 shares of the industrial products company’s stock valued at $2,351,994,000 after purchasing an additional 187,268 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Illinois Tool Works by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock valued at $1,236,063,000 after purchasing an additional 326,412 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Illinois Tool Works by 25.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,805,831 shares of the industrial products company’s stock worth $511,363,000 after buying an additional 562,273 shares during the period. 79.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the sale, the chief executive officer now directly owns 213,538 shares of the company’s stock, valued at approximately $52,592,274.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.26, for a total value of $14,809,337.62. Following the transaction, the insider now directly owns 40,072 shares of the company’s stock, valued at $9,868,130.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the transaction, the chief executive officer now directly owns 213,538 shares in the company, valued at $52,592,274.02. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $229.81 on Friday. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $253.37. The stock has a fifty day moving average of $234.04 and a 200-day moving average of $217.85. The company has a market capitalization of $70.11 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.49 and a beta of 1.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.41.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.26). Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the company posted $1.95 EPS. Illinois Tool Works’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 9.61 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 53.58%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 19th. The Goldman Sachs Group boosted their price objective on Illinois Tool Works from $210.00 to $238.00 and gave the stock a “neutral” rating in a research report on Thursday, December 15th. Credit Suisse Group boosted their price objective on Illinois Tool Works from $259.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Citigroup boosted their price objective on Illinois Tool Works from $232.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. Finally, Morgan Stanley upped their target price on Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $223.07.

Illinois Tool Works Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.