Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 235 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,447 shares of the industrial products company’s stock after selling 235 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Illinois Tool Works were worth $8,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works in the 4th quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $26,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director now owns 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Up 0.5%

Shares of ITW opened at $247.00 on Friday. The firm has a 50 day simple moving average of $243.49 and a two-hundred day simple moving average of $250.29. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a market cap of $72.37 billion, a P/E ratio of 21.72, a P/E/G ratio of 5.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. Illinois Tool Works’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.43%. Illinois Tool Works’s payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ITW. Citigroup decreased their price objective on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Barclays decreased their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. UBS Group cut their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Finally, Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target for the company. in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $253.42.

Illinois Tool Works Company Profile

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.