Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Roxbury Financial LLC

Roxbury Financial LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,170 shares of the industrial products company’s stock after selling 45 shares during the period. Roxbury Financial LLC’s holdings in Illinois Tool Works were worth $573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth about $26,000. Glass Jacobson Investment Advisors llc raised its stake in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Evercore ISI cut their price objective on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Barclays cut their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works Stock Down 0.4%

Shares of Illinois Tool Works stock opened at $244.83 on Monday. 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 52-week low of $214.66 and a 52-week high of $279.13. The company has a market capitalization of $71.74 billion, a P/E ratio of 20.89, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a 50 day moving average of $240.10 and a 200 day moving average of $253.82.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated 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 sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

About Illinois Tool Works

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.