Stonnington Group LLC Sells 320 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Stonnington Group LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 11,970 shares of the industrial products company’s stock after selling 320 shares during the quarter. Stonnington Group LLC’s holdings in Illinois Tool Works were worth $2,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ITW. Hexagon Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $26,000. Standard Family Office LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $39,000. Old North State Trust LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $42,000. JFS Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 51.0% in the third quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock valued at $43,000 after buying an additional 80 shares during the period. Finally, Orion Capital Management LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $43,000. 79.83% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.2 %

NYSE:ITW opened at $229.81 on Friday. The company has a market cap of $70.11 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 3.49 and a beta of 1.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.41. The stock’s fifty day moving average price is $234.04 and its two-hundred day moving average price is $217.85. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $253.37.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.26). The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.90 billion. Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $1.95 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post 9.61 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be paid a $1.31 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 53.58%.

Insider Activity

In other news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total value of $14,809,337.62. Following the completion of the sale, the insider now directly owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the sale, the insider now directly owns 40,072 shares of the company’s stock, valued at $9,868,130.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ernest Scott Santi sold 235,656 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total value of $58,039,716.24. Following the sale, the chief executive officer now directly owns 213,538 shares of the company’s stock, valued at $52,592,274.02. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ITW. The Goldman Sachs Group increased their price target on shares of Illinois Tool Works from $210.00 to $238.00 and gave the stock a “neutral” rating in a research report on Thursday, December 15th. StockNews.com began coverage on shares of Illinois Tool Works in a research report on Thursday. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $170.00 to $183.00 in a research report on Friday, February 3rd. UBS Group increased their price target on shares of Illinois Tool Works from $213.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, February 9th. Finally, Morgan Stanley increased their price target on shares of Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $223.07.

About Illinois Tool Works

(Get Rating)

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.