Gulf International Bank UK Ltd Sells 252 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Gulf International Bank UK Ltd reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,778 shares of the industrial products company’s stock after selling 252 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Illinois Tool Works were worth $6,029,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $37,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Down 1.2 %

ITW opened at $261.30 on Thursday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $76.69 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a fifty day moving average price of $256.84 and a two-hundred day moving average price of $258.93.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays decreased their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Evercore ISI cut their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company cut 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 report on Thursday, February 6th. Finally, Citigroup cut their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $269.30.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.26% 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.