Shell Asset Management Co. Sells 87 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Shell Asset Management Co. lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,964 shares of the industrial products company’s stock after selling 87 shares during the period. Shell Asset Management Co.’s holdings in Illinois Tool Works were worth $1,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Rafferty Asset Management LLC grew its position in Illinois Tool Works by 10.8% during the fourth quarter. Rafferty Asset Management LLC now owns 25,101 shares of the industrial products company’s stock worth $6,365,000 after buying an additional 2,448 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $677,000. Quantinno Capital Management LP grew its holdings in shares of Illinois Tool Works by 48.7% during the 4th quarter. Quantinno Capital Management LP now owns 46,138 shares of the industrial products company’s stock worth $11,699,000 after purchasing an additional 15,120 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth $1,006,000. Finally, Man Group plc raised its stake in Illinois Tool Works by 45.1% in the fourth quarter. Man Group plc now owns 35,376 shares of the industrial products company’s stock valued at $8,970,000 after purchasing an additional 10,999 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ITW. UBS Group decreased their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Stifel Nicolaus increased their price target 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. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.67.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $251.33 on Friday. The stock has a 50-day moving average price of $241.76 and a two-hundred day moving average price of $255.58. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a market capitalization of $73.64 billion, a PE ratio of 21.44, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

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

Illinois Tool Works Dividend Announcement

The firm 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is currently 52.77%.

Illinois Tool Works 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.