Illinois Tool Works Inc. (NYSE:ITW) Position Lessened by Glenview Trust co

Glenview Trust co lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,275 shares of the industrial products company’s stock after selling 763 shares during the quarter. Glenview Trust co’s holdings in Illinois Tool Works were worth $3,620,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ITW. Oppenheimer Asset Management Inc. boosted its stake in shares of Illinois Tool Works by 1.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,462 shares of the industrial products company’s stock worth $1,431,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc boosted its position in Illinois Tool Works by 5.0% during the third quarter. CIBC Asset Management Inc now owns 54,655 shares of the industrial products company’s stock worth $14,323,000 after purchasing an additional 2,619 shares during the period. Natixis Advisors LLC grew its holdings in Illinois Tool Works by 4.2% during the third quarter. Natixis Advisors LLC now owns 207,758 shares of the industrial products company’s stock valued at $54,447,000 after purchasing an additional 8,460 shares during the last quarter. KPP Advisory Services LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at approximately $212,000. Finally, Sawgrass Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the third quarter worth $203,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 1.7 %

Shares of Illinois Tool Works stock opened at $254.72 on Monday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market capitalization of $74.76 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company’s fifty day moving average price is $257.83 and its two-hundred day moving average price is $260.43.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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 expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analyst Ratings Changes

Several brokerages recently commented on ITW. Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Jefferies Financial Group boosted 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. 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 report on Thursday, February 6th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Two equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $269.10.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last three months. 0.88% of the stock is currently owned by corporate insiders.

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.