Fiduciary Group LLC Cuts Stake in Illinois Tool Works Inc. (ITW)

Fiduciary Group LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,477 shares of the industrial products company’s stock after selling 312 shares during the quarter. Fiduciary Group LLC’s holdings in Illinois Tool Works were worth $1,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Pearl River Capital LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at about $25,000. Rational Advisors LLC increased its holdings in shares of Illinois Tool Works by 1,492.3% in the fourth quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 194 shares in the last quarter. WP Advisors LLC bought a new stake in shares of Illinois Tool Works in the first quarter worth about $28,000. Focused Wealth Management Inc bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $38,000. Finally, Athena Capital Advisors LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $41,000. 77.65% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the completion of the transaction, the insider now directly owns 71,927 shares of the company’s stock, valued at $10,486,237.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Hartnett sold 14,323 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the transaction, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at $4,866,767.25. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

ITW stock opened at $149.96 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 1.87. The stock has a market cap of $49.26 billion, a PE ratio of 19.73, a PEG ratio of 2.47 and a beta of 1.21. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.01. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. Illinois Tool Works’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.00 annualized dividend and a yield of 2.67%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

ITW has been the subject of several recent analyst reports. Credit Suisse Group restated a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. Stifel Nicolaus increased their price target on Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. BMO Capital Markets lowered their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a report on Monday, February 25th. Finally, UBS Group increased their price target on Illinois Tool Works from $137.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $142.59.

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Illinois Tool Works Company Profile

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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