Notis McConarty Edward Sells 443 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Notis McConarty Edward lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,956 shares of the industrial products company’s stock after selling 443 shares during the quarter. Notis McConarty Edward’s holdings in Illinois Tool Works were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Baron Wealth Management LLC raised its holdings in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after buying an additional 39 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 46 shares during the last quarter. Valmark Advisers Inc. increased its holdings in Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after purchasing an additional 47 shares during the period. Finally, Lyell Wealth Management LP raised its position in Illinois Tool Works by 4.9% during the 4th quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $225.25 on Friday. The stock’s 50 day moving average is $256.77 and its 200 day moving average is $260.40. The company has a market capitalization of $66.08 billion, a P/E ratio of 19.22, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a twelve month low of $224.94 and a twelve month high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Barclays cut their target price on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Jefferies Financial Group increased their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two equities research 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 stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $268.30.

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.