Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by McGuire Investment Group LLC

McGuire Investment Group LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,286 shares of the industrial products company’s stock after selling 303 shares during the period. Illinois Tool Works makes up about 1.8% of McGuire Investment Group LLC’s investment portfolio, making the stock its 18th largest position. McGuire Investment Group LLC’s holdings in Illinois Tool Works were worth $11,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ITW. Wesbanco Bank Inc. increased its stake in shares of Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after buying an additional 1,152 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Illinois Tool Works by 8.0% in the fourth quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after buying an additional 10,062 shares during the last quarter. Western Wealth Management LLC increased its stake in shares of Illinois Tool Works by 0.9% in the second quarter. Western Wealth Management LLC now owns 6,313 shares of the industrial products company’s stock worth $1,579,000 after buying an additional 56 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth $1,809,000. Finally, Vestor Capital LLC increased its stake in Illinois Tool Works by 1.2% during the second quarter. Vestor Capital LLC now owns 14,834 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays boosted their target price on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Monday, February 5th. Finally, Citigroup boosted their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $245.50.

View Our Latest Stock Report on Illinois Tool Works

Illinois Tool Works Stock Performance

ITW stock opened at $268.59 on Friday. The company has a market capitalization of $80.25 billion, a P/E ratio of 27.58, a PEG ratio of 4.64 and a beta of 1.13. The company has a 50-day simple moving average of $259.05 and a 200 day simple moving average of $247.30. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company posted $2.34 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share 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 11th. Shareholders of record on Friday, March 29th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. In the last three months, insiders sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is owned by insiders.

About Illinois Tool Works

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITWFree Report).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.