Fiduciary Trust Co Sells 2,309 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Fiduciary Trust Co trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,969 shares of the industrial products company’s stock after selling 2,309 shares during the period. Fiduciary Trust Co’s holdings in Illinois Tool Works were worth $21,038,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Illinois Tool Works by 1.7% in the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company’s stock valued at $203,619,000 after acquiring an additional 12,988 shares during the period. Principal Financial Group Inc. grew its position in shares of Illinois Tool Works by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 340,027 shares of the industrial products company’s stock valued at $89,111,000 after buying an additional 16,846 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Illinois Tool Works by 3.2% during the fourth quarter. Nordea Investment Management AB now owns 39,382 shares of the industrial products company’s stock worth $10,017,000 after buying an additional 1,216 shares during the period. Diversified Trust Co boosted its position in shares of Illinois Tool Works by 8.4% during the 4th quarter. Diversified Trust Co now owns 1,534 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 119 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Illinois Tool Works by 8.1% in the 4th quarter. Fulton Bank N.A. now owns 882 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group lowered their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $253.67.

Illinois Tool Works Trading Up 1.1 %

Shares of NYSE:ITW opened at $243.07 on Friday. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week 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. The stock has a market cap of $71.31 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.56 and a beta of 1.12. The business has a 50-day moving average price of $243.59 and a 200-day moving average price of $255.97.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Illinois Tool Works’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.77%.

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.