Financial Counselors Inc. Decreases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Financial Counselors Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,364 shares of the industrial products company’s stock after selling 267 shares during the quarter. Financial Counselors Inc.’s holdings in Illinois Tool Works were worth $3,389,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $31,000. Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $33,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ITW shares. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Citigroup reduced 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 note 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 issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $268.30.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated 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 directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $251.86 on Friday. The stock has a market cap of $73.92 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The firm has a 50-day moving average of $258.61 and a two-hundred day moving average of $260.64. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

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

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Illinois Tool Works Company Profile

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.