Wellington Shields Capital Management LLC Sells 380 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wellington Shields Capital Management LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,768 shares of the industrial products company’s stock after selling 380 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Illinois Tool Works were worth $4,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pensionfund Sabic grew its stake in Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $1,729,000. Czech National Bank lifted its position in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Illinois Tool Works by 11.8% in the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after acquiring an additional 3,903 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock valued at $42,973,845. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $250.26 on Friday. The firm has a 50 day moving average of $257.79 and a two-hundred day moving average of $260.23. The firm has a market capitalization of $73.45 billion, a PE ratio of 21.35, a P/E/G ratio of 4.56 and a beta of 1.13. 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 Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.40%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

ITW has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company decreased their price target 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. Evercore ISI lowered their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $269.10.

About Illinois Tool Works

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.