Haverford Trust Co Sells 1,093 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Haverford Trust Co lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,472 shares of the industrial products company’s stock after selling 1,093 shares during the period. Haverford Trust Co owned about 0.06% of Illinois Tool Works worth $43,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Clune & Associates LTD. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $210,000. Vanguard Group Inc. grew its position in Illinois Tool Works by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock worth $6,675,473,000 after purchasing an additional 94,601 shares during the period. Stevens Capital Management LP purchased a new stake in Illinois Tool Works during the 4th quarter valued at $375,000. LPL Financial LLC boosted its stake in shares of Illinois Tool Works by 4.9% in the 4th quarter. LPL Financial LLC now owns 470,178 shares of the industrial products company’s stock worth $119,218,000 after buying an additional 22,078 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Illinois Tool Works in the fourth quarter worth $409,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on 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 sale, the director now owns 260,224 shares of the company’s stock, valued at $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. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays set a $260.00 target price on Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Stock Down 0.9 %

Shares of NYSE:ITW opened at $251.05 on Monday. The firm has a market capitalization of $73.68 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business has a 50 day simple moving average of $258.48 and a two-hundred day simple moving average of $260.57. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 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%. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. 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.