Creegan & Nassoura Financial Group LLC Sells 50 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Creegan & Nassoura Financial Group LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,443 shares of the industrial products company’s stock after selling 50 shares during the period. Illinois Tool Works comprises approximately 2.0% of Creegan & Nassoura Financial Group LLC’s portfolio, making the stock its 17th largest holding. Creegan & Nassoura Financial Group LLC’s holdings in Illinois Tool Works were worth $2,902,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITW. Norges Bank purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $806,291,000. Raymond James Financial Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at $203,949,000. Cerity Partners LLC raised its stake in shares of Illinois Tool Works by 263.9% during the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after acquiring an additional 655,341 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Illinois Tool Works by 36,632.9% in the fourth 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. Finally, Franklin Resources Inc. grew its position in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Citigroup cut their target price on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Barclays lowered their price target on Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased 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 report on Monday, February 3rd. Finally, Evercore ISI reduced their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $260.09.

Illinois Tool Works Trading Up 0.4 %

Shares of ITW opened at $230.68 on Monday. 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 $67.67 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company’s fifty day simple moving average is $249.80 and its 200-day simple moving average is $257.86.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.60%. 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.