Chicago Capital LLC Sells 1,934 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Chicago Capital LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,943 shares of the industrial products company’s stock after selling 1,934 shares during the period. Chicago Capital LLC’s holdings in Illinois Tool Works were worth $4,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Illinois Tool Works by 106,553.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after acquiring an additional 7,178,474 shares during the last quarter. Norges Bank bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $708,259,000. Morgan Stanley raised its stake in shares of Illinois Tool Works by 59.2% in the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock valued at $1,011,459,000 after acquiring an additional 1,707,780 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its stake in shares of Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 in the last 90 days. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ITW. Barclays lifted their target price on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Monday, February 5th. Citigroup increased their price objective on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price target on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $245.50.

Check Out Our Latest Research Report on Illinois Tool Works

Illinois Tool Works Price Performance

Shares of ITW opened at $265.23 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The stock has a market cap of $79.23 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 4.61 and a beta of 1.13. The stock’s 50-day moving average price is $260.76 and its two-hundred day moving average price is $248.53.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $2.34 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

About Illinois Tool Works

(Free Report)

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.

Further Reading

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.