Horan Capital Advisors LLC. Sells 2,138 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Horan Capital Advisors LLC. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,467 shares of the industrial products company’s stock after selling 2,138 shares during the quarter. Illinois Tool Works accounts for approximately 1.1% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 26th largest holding. Horan Capital Advisors LLC.’s holdings in Illinois Tool Works were worth $3,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC grew its stake in shares of Illinois Tool Works by 1,060.0% during 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. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $37,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.8 %

Shares of ITW stock opened at $261.96 on Tuesday. The stock’s fifty day moving average is $257.09 and its two-hundred day moving average is $259.57. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $76.89 billion, a P/E ratio of 22.35, a PEG ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

ITW has been the topic of several research reports. Barclays cut their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $269.30.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on 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 directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.