Woodstock Corp Trims Stake in Illinois Tool Works Inc. (NYSE:ITW)

Woodstock Corp lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,806 shares of the industrial products company’s stock after selling 306 shares during the period. Illinois Tool Works accounts for about 1.4% of Woodstock Corp’s portfolio, making the stock its 23rd largest position. Woodstock Corp’s holdings in Illinois Tool Works were worth $11,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $26,000. Diversified LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $27,000. MPS Loria Financial Planners LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. Exchange Traded Concepts LLC increased its position in Illinois Tool Works by 259.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 176 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Finally, Retirement Group LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $37,000. 77.44% of the stock is currently owned by institutional investors.

In other news, VP Norman D. Jr. Finch sold 7,232 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the firm’s stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $205.37, for a total value of $252,810.47. Following the sale, the chief executive officer now owns 295,172 shares in the company, valued at $60,619,473.64. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

ITW traded down $1.77 during midday trading on Thursday, hitting $218.18. 7,280 shares of the company were exchanged, compared to its average volume of 1,133,616. The company’s 50 day simple moving average is $213.43 and its 200 day simple moving average is $205.68. The firm has a market capitalization of $69.05 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 3.88 and a beta of 1.07. The company has a current ratio of 2.37, a quick ratio of 1.92 and a debt-to-equity ratio of 2.81. Illinois Tool Works Inc. has a 1-year low of $148.27 and a 1-year high of $228.77.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.23. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.31 billion. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.87 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 6.42 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.09%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 58.84%.

A number of research analysts have commented on the stock. Robert W. Baird reissued a “hold” rating on shares of Illinois Tool Works in a research report on Tuesday, February 23rd. The Goldman Sachs Group upgraded Illinois Tool Works from a “sell” rating to a “neutral” rating and increased their price objective for the company from $195.00 to $217.00 in a report on Tuesday, January 19th. Vertical Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, January 4th. Morgan Stanley increased their price objective on Illinois Tool Works from $176.00 to $180.00 and gave the company an “underweight” rating in a report on Monday, February 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $96.00 to $206.00 and gave the company a “hold” rating in a report on Monday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $204.41.

About Illinois Tool Works

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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