Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,913 shares of the industrial products company’s stock after selling 2,835 shares during the quarter. US Bancorp DE owned 0.09% of Illinois Tool Works worth $69,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after acquiring an additional 95,925 shares during the period. SVB Wealth LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth $1,509,000. Argyle Capital Management LLC grew its stake in shares of Illinois Tool Works by 12.4% during the 4th quarter. Argyle Capital Management LLC now owns 2,490 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 275 shares during the period. Shoker Investment Counsel Inc. increased its holdings in shares of Illinois Tool Works by 1.2% in the 4th quarter. Shoker Investment Counsel Inc. now owns 9,935 shares of the industrial products company’s stock valued at $2,519,000 after purchasing an additional 113 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Illinois Tool Works by 29.5% in the fourth quarter. QRG Capital Management Inc. now owns 20,355 shares of the industrial products company’s stock valued at $5,161,000 after purchasing an additional 4,637 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 1.1 %

ITW opened at $263.99 on Friday. The firm has a market cap of $77.48 billion, a P/E ratio of 22.52, a PEG ratio of 4.56 and a beta of 1.11. The business’s fifty day simple moving average is $257.00 and its 200 day simple moving average is $259.28. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 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.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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 anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded 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 report on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Wells Fargo & Company dropped their price target on 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. Finally, Evercore ISI cut their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $269.30.

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.