Illinois Tool Works Inc. (NYSE:ITW) CEO Sells $13,293,565.08 in Stock

Illinois Tool Works Inc. (NYSE:ITW) CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Illinois Tool Works Trading Down 4.7 %

NYSE:ITW traded down $12.62 during midday trading on Tuesday, hitting $255.05. The stock had a trading volume of 1,757,409 shares, compared to its average volume of 1,086,542. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average of $257.80 and a 200 day moving average of $260.30. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released 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 net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prudent Man Investment Management Inc. acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $26,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ITW. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. 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. Citigroup reduced their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $269.10.

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.