PFC Capital Group Inc. Lowers Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

PFC Capital Group Inc. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,735 shares of the industrial products company’s stock after selling 200 shares during the period. Illinois Tool Works comprises 0.9% of PFC Capital Group Inc.’s investment portfolio, making the stock its 24th biggest holding. PFC Capital Group Inc.’s holdings in Illinois Tool Works were worth $1,961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Pensionfund Sabic grew its stake in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% during the third 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 period. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $1,729,000. Czech National Bank boosted its stake in shares of Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in 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 purchasing an additional 308,935 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works 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 sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $248.31 on Tuesday. The stock has a fifty day moving average price of $258.24 and a 200 day moving average price of $260.83. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $72.84 billion, a P/E ratio of 21.19, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

ITW has been the topic of several research reports. Barclays lowered their target price on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut 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 research report on Monday, February 3rd. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $268.30.

About Illinois Tool Works

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.