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

Amundi trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,582,529 shares of the industrial products company’s stock after selling 106,995 shares during the quarter. Amundi owned approximately 0.54% of Illinois Tool Works worth $392,408,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $28,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $33,000. Hager Investment Management Services LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $37,000. Finally, Asset Planning Inc purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $40,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $274.89 on Friday. The stock has a 50-day moving average price of $257.54 and a two-hundred day moving average price of $260.05. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $80.68 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ITW shares. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Two research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Profile

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.