Whittier Trust Co. Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Whittier Trust Co. cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,595 shares of the industrial products company’s stock after selling 3,916 shares during the quarter. Whittier Trust Co.’s holdings in Illinois Tool Works were worth $8,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Raymond James Financial Inc. purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $203,949,000. Proficio Capital Partners LLC increased its holdings in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after purchasing an additional 437,397 shares during the last quarter. Franklin Resources Inc. increased its holdings in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 1.2 %

NYSE:ITW opened at $253.19 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $74.31 billion, a P/E ratio of 21.60, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business has a 50 day simple moving average of $258.35 and a 200 day simple moving average of $260.40.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared 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 yield of 2.37%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Barclays set a $260.00 price target on Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday, March 10th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $269.10.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % 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. 0.88% of the stock is owned by company insiders.

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.