Anchor Capital Advisors LLC Decreases Position in Illinois Tool Works Inc. (ITW)

Anchor Capital Advisors LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,758 shares of the industrial products company’s stock after selling 200 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Illinois Tool Works were worth $2,250,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Focused Wealth Management Inc acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp lifted its stake in Illinois Tool Works by 100.0% in the fourth quarter. Toth Financial Advisory Corp now owns 350 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 175 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in Illinois Tool Works by 101.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 374 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 188 shares during the last quarter. Moody National Bank Trust Division lifted its stake in Illinois Tool Works by 100.0% in the fourth quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 210 shares during the last quarter. Finally, NuWave Investment Management LLC lifted its stake in Illinois Tool Works by 3,530.8% in the fourth quarter. NuWave Investment Management LLC now owns 472 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 459 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

In other news, EVP John R. Hartnett sold 14,500 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $137.00, for a total value of $1,986,500.00. Following the transaction, the executive vice president now owns 29,448 shares of the company’s stock, valued at $4,034,376. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sundaram Nagarajan sold 18,651 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the completion of the transaction, the insider now directly owns 44,954 shares in the company, valued at approximately $6,192,413.50. The disclosure for this sale can be found here. In the last three months, insiders sold 200,772 shares of company stock worth $26,864,670. Insiders own 0.82% of the company’s stock.

ITW has been the subject of a number of analyst reports. Citigroup cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price for the company. in a research note on Monday, January 14th. Seaport Global Securities cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $132.00 in a research note on Thursday, October 25th. Morgan Stanley cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $131.00 to $115.00 in a research note on Tuesday, December 18th. Wells Fargo & Co reiterated a “buy” rating and issued a $150.00 target price (down from $160.00) on shares of Illinois Tool Works in a research note on Wednesday, October 17th. Finally, Deutsche Bank cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and reduced their target price for the company from $133.00 to $125.00 in a research note on Sunday, December 16th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $137.93.

NYSE:ITW opened at $136.23 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $171.83. The company has a market capitalization of $45.03 billion, a PE ratio of 17.93, a PEG ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $1.70 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Illinois Tool Works Inc. will post 7.97 earnings per share for the current fiscal year.

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Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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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:ITW).

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

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