Todd Asset Management LLC Sells 145 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Todd Asset Management LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,159 shares of the industrial products company’s stock after selling 145 shares during the quarter. Todd Asset Management LLC’s holdings in Illinois Tool Works were worth $801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FourThought Financial Partners LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $2,528,000. Bank of New York Mellon Corp raised its position in shares of Illinois Tool Works by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock valued at $634,797,000 after purchasing an additional 46,287 shares during the period. BHK Investment Advisors LLC raised its position in shares of Illinois Tool Works by 2.6% during the 4th quarter. BHK Investment Advisors LLC now owns 2,392 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 60 shares during the period. CWS Financial Advisors LLC lifted its stake in shares of Illinois Tool Works by 14.6% during the 4th quarter. CWS Financial Advisors LLC now owns 1,872 shares of the industrial products company’s stock valued at $475,000 after buying an additional 239 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in Illinois Tool Works by 1.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 10,139 shares of the industrial products company’s stock worth $2,572,000 after buying an additional 101 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.1 %

ITW stock opened at $264.41 on Wednesday. The firm has a market cap of $77.60 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The firm has a fifty day moving average price of $256.84 and a 200 day moving average price of $258.91. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. Barclays decreased their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup dropped their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Evercore ISI reduced their price objective on shares of 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. Finally, Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $269.30.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

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.