Clifford Swan Investment Counsel LLC Cuts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Clifford Swan Investment Counsel LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,827 shares of the industrial products company’s stock after selling 164 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Illinois Tool Works were worth $8,577,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Pensionfund Sabic boosted its holdings in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. raised its position in Illinois Tool Works by 41.0% in the 3rd 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 purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $1,729,000. Czech National Bank grew its position in shares of Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth approximately $1,179,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’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 transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 1.1 %

Illinois Tool Works stock opened at $263.99 on Friday. The company has a market capitalization of $77.48 billion, a P/E ratio of 22.52, a PEG ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock has a 50-day simple moving average of $257.00 and a 200-day simple moving average of $259.28.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm 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 $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Evercore ISI dropped their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $269.30.

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.