Bailard Inc. Trims Holdings in Illinois Tool Works Inc. (ITW)

Bailard Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 38,568 shares of the industrial products company’s stock after selling 1,365 shares during the quarter. Bailard Inc.’s holdings in Illinois Tool Works were worth $4,886,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ITW. Massachusetts Financial Services Co. MA increased its stake in Illinois Tool Works by 25.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock worth $975,518,000 after acquiring an additional 1,401,794 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after acquiring an additional 830,998 shares during the last quarter. BlackRock Inc. increased its stake in Illinois Tool Works by 2.5% in the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after acquiring an additional 528,550 shares during the last quarter. Coho Partners Ltd. increased its stake in Illinois Tool Works by 52.7% in the 4th quarter. Coho Partners Ltd. now owns 1,185,871 shares of the industrial products company’s stock worth $150,238,000 after acquiring an additional 409,472 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY bought a new stake in Illinois Tool Works in the 3rd quarter worth approximately $55,822,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP John R. Hartnett sold 14,500 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the completion of the transaction, the executive vice president now owns 29,448 shares in the company, valued at approximately $4,034,376. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sundaram Nagarajan sold 18,651 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $137.75, for a total value of $2,569,175.25. Following the transaction, the insider now owns 44,954 shares of the company’s stock, valued at approximately $6,192,413.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,772 shares of company stock worth $26,864,670. Corporate insiders own 0.82% of the company’s stock.

NYSE ITW opened at $136.23 on Tuesday. The company has a market cap of $45.03 billion, a PE ratio of 17.93, a P/E/G ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $171.83.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. On average, equities analysts expect that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.

A number of analysts have issued reports on the company. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a research note on Friday, February 1st. JPMorgan Chase & Co. downgraded Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Thursday, January 10th. Robert W. Baird set a $130.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Wells Fargo & Co set a $145.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a research note on Thursday, October 25th. Finally, Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $132.00 in a research note on Thursday, October 25th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $137.93.

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About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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