Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,545 shares of the industrial products company’s stock after selling 185 shares during the period. Illinois Tool Works comprises approximately 4.4% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 7th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Illinois Tool Works were worth $6,984,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. 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 valued at $111,209,000 after purchasing an additional 437,397 shares in the last quarter. Franklin Resources Inc. increased its stake 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 valued at $358,321,000 after buying an additional 398,676 shares during the period. National Bank of Canada FI increased its stake 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 buying an additional 308,935 shares during the period. Geode Capital Management LLC increased its stake 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 buying an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after buying an additional 165,607 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated 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 sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. Barclays lowered their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Evercore ISI reduced 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. Finally, Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Stock Performance

ITW stock opened at $263.99 on Friday. The business’s 50-day moving average price is $257.00 and its two-hundred day moving average price is $259.28. 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 firm has a market cap of $77.48 billion, a PE ratio of 22.52, a P/E/G ratio of 4.56 and a beta of 1.11. 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 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, research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.