Boston Family Office LLC Has $3 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Boston Family Office LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,820 shares of the industrial products company’s stock after selling 165 shares during the period. Boston Family Office LLC’s holdings in Illinois Tool Works were worth $2,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC grew its position in Illinois Tool Works by 4.1% in the third quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock valued at $261,666,000 after purchasing an additional 39,445 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Illinois Tool Works by 17.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock worth $2,108,000 after buying an additional 1,200 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Illinois Tool Works by 9.9% in the 3rd quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock valued at $10,405,000 after acquiring an additional 3,581 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its position in shares of Illinois Tool Works by 2.7% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company’s stock valued at $745,000 after acquiring an additional 76 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings 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 worth $30,000 after acquiring an additional 106 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $248.31 on Tuesday. The firm has a market cap of $72.84 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business’s 50 day moving average is $258.24 and its 200-day moving average is $260.83. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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

Illinois Tool Works Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works’s payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. Evercore ISI lowered their price target on 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays lowered their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given 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 $268.30.

Illinois Tool Works 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.