Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,167 shares of the industrial products company’s stock after selling 151 shares during the period. EverSource Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $296,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 worth $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after buying an additional 95,925 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after buying an additional 32,607 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Illinois Tool Works by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock worth $634,797,000 after acquiring an additional 46,287 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITW. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus dropped their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Stock Up 1.7 %

ITW opened at $254.72 on Friday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The business has a 50 day moving average price of $257.83 and a 200 day moving average price of $260.34. The firm has a market cap of $74.76 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Activity

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is owned by company insiders.

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.