Notis McConarty Edward Reduces Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Notis McConarty Edward lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,956 shares of the industrial products company’s stock after selling 443 shares during the quarter. Notis McConarty Edward’s holdings in Illinois Tool Works were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $806,291,000. Raymond James Financial Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $203,949,000. Proficio Capital Partners LLC raised its holdings in Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after purchasing an additional 437,397 shares during the period. Franklin Resources Inc. lifted its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s 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 sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Citigroup dropped their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Barclays cut their price target on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $268.30.

Illinois Tool Works Trading Down 5.9 %

Shares of Illinois Tool Works stock opened at $225.25 on Friday. Illinois Tool Works Inc. has a twelve month low of $224.94 and a twelve month high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The business has a 50-day moving average price of $256.77 and a 200-day moving average price of $260.40. The firm has a market cap of $66.08 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.66%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.