Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Burney Co.

Burney Co. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the first quarter, HoldingsChannel reports. The firm owned 16,477 shares of the industrial products company’s stock after selling 607 shares during the period. Burney Co.’s holdings in Illinois Tool Works were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ITW. Pearl River Capital LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth about $25,000. Rational Advisors LLC increased its position in Illinois Tool Works by 1,492.3% in the fourth quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after buying an additional 194 shares in the last quarter. WP Advisors LLC purchased a new stake in Illinois Tool Works in the first quarter worth about $28,000. Mark Sheptoff Financial Planning LLC increased its position in Illinois Tool Works by 512.8% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Finally, Athena Capital Advisors LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth about $41,000. 77.59% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP John R. Hartnett sold 14,323 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the completion of the transaction, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at $4,866,767.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $150.17, for a total value of $2,242,188.27. Following the transaction, the vice president now directly owns 21,603 shares of the company’s stock, valued at $3,244,122.51. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

A number of analysts have commented on the company. Stifel Nicolaus upped their price target on Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Argus upped their price target on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Citigroup set a $161.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets reduced their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a research report on Monday, February 25th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $142.59.

NYSE ITW opened at $152.40 on Wednesday. The stock has a market capitalization of $50.35 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.24. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.53 and a quick ratio of 1.19. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $158.69.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. Equities research analysts predict that Illinois Tool Works Inc. will post 7.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.

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Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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