Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,827 shares of the industrial products company’s stock after selling 164 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Illinois Tool Works were worth $8,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its holdings in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after purchasing an additional 95,925 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Illinois Tool Works by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock valued at $634,797,000 after purchasing an additional 46,287 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after purchasing an additional 32,656 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

NYSE ITW opened at $263.99 on Friday. 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 Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business has a fifty day moving average of $257.00 and a 200-day moving average of $259.28. The stock has a market cap of $77.48 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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 10th. Shareholders of record on Monday, March 31st will be paid 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 payout ratio is currently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

ITW has been the topic of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Barclays lowered their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $269.30.

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.