Dean Investment Associates LLC Sells 90 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Dean Investment Associates LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 10,566 shares of the industrial products company’s stock after selling 90 shares during the quarter. Dean Investment Associates LLC’s holdings in Illinois Tool Works were worth $2,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in Illinois Tool Works by 1.7% in the 3rd quarter. Barclays PLC now owns 776,966 shares of the industrial products company’s stock worth $203,619,000 after buying an additional 12,988 shares during the period. Tudor Financial Inc. bought a new position in Illinois Tool Works during the third quarter worth $759,000. World Investment Advisors LLC raised its stake in Illinois Tool Works by 6.7% during the 3rd quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company’s stock valued at $4,186,000 after purchasing an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Illinois Tool Works by 128.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company’s stock valued at $6,084,000 after purchasing an additional 13,062 shares during the period. Finally, Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ITW shares. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday. Barclays lowered their price objective on Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Evercore ISI reduced their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $260.09.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Up 0.4 %

Shares of NYSE:ITW opened at $230.68 on Friday. The company has a market capitalization of $67.67 billion, a PE ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company’s fifty day moving average is $250.36 and its 200-day moving average is $258.12. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.60%. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.