Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 56.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,859 shares of the industrial products company’s stock after selling 2,399 shares during the period. Good Life Advisors LLC’s holdings in Illinois Tool Works were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pensionfund Sabic boosted its position in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares during the period. Franklin Resources Inc. raised its stake in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Illinois Tool Works in the fourth quarter worth about $1,729,000. Czech National Bank grew its position in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $1,179,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, StockNews.com cut 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 issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Price Performance

ITW stock opened at $265.42 on Friday. The firm has a 50-day moving average of $257.23 and a two-hundred day moving average of $258.12. The firm has a market capitalization of $77.90 billion, a PE ratio of 22.65, a P/E/G ratio of 4.49 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Illinois Tool Works Company 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.