Illinois Tool Works Inc. $ITW Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 24.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,073 shares of the industrial products company’s stock after selling 10,903 shares during the quarter. Candriam S.C.A.’s holdings in Illinois Tool Works were worth $8,540,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. AG acquired a new position in Illinois Tool Works during the 2nd quarter worth approximately $5,017,000. Sanctuary Advisors LLC bought a new stake in shares of Illinois Tool Works during the second quarter worth $14,028,000. Cibc World Market Inc. bought a new stake in shares of Illinois Tool Works during the second quarter worth $3,887,000. Sapient Capital LLC increased its holdings in shares of Illinois Tool Works by 227.7% during the second quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company’s stock worth $3,703,000 after buying an additional 9,457 shares in the last quarter. Finally, Fidelity National Financial Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at $20,583,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Ernest Santi sold 60,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the completion of the transaction, the director directly owned 266,333 shares in the company, valued at $78,000,945.71. The trade was a 18.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matteo C. Pigozzo sold 277 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares of the company’s stock, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 101,708 shares of company stock worth $29,546,740 in the last ninety days. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $286.41 on Tuesday. The business’s fifty day moving average is $271.98 and its 200 day moving average is $271.53. The firm has a market cap of $81.40 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 3.22 and a beta of 0.92. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.03. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 11.49 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $6.88 annualized dividend and a yield of 2.4%. Illinois Tool Works’s payout ratio is currently 61.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their target price on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. UBS Group set a $277.00 price objective on Illinois Tool Works in a research note on Friday, October 9th. Citigroup reduced their price objective on Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $270.00 price target on shares of Illinois Tool Works in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $276.33.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions.

ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.

The company serves customers across North America, Europe, Asia, and other international markets through its manufacturing and sales operations.