Illinois Tool Works Inc. (ITW) Position Cut by Grandfield & Dodd LLC

Grandfield & Dodd LLC reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,900 shares of the industrial products company’s stock after selling 4,238 shares during the period. Illinois Tool Works comprises 2.9% of Grandfield & Dodd LLC’s holdings, making the stock its 3rd biggest position. Grandfield & Dodd LLC owned about 0.05% of Illinois Tool Works worth $25,434,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Omnia Family Wealth LLC boosted its holdings in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares in the last quarter. Private Vista LLC boosted its holdings in Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after buying an additional 277,508 shares in the last quarter. Harding Loevner LP purchased a new stake in Illinois Tool Works during the second quarter worth $115,000. WFG Advisors LP boosted its holdings in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after buying an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Roland M. Martel sold 64,818 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $167.41, for a total value of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares in the company, valued at $4,389,825.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. Insiders sold 191,324 shares of company stock valued at $30,653,014 over the last quarter. Company insiders own 0.90% of the company’s stock.

A number of analysts recently issued reports on ITW shares. Argus reissued a “buy” rating and set a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $171.00 price objective (up from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley increased their price objective on shares of Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Wells Fargo & Company set a $170.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $162.67.

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up $1.28 during midday trading on Wednesday, hitting $166.30. 978,476 shares of the stock were exchanged, compared to its average volume of 1,206,987. The firm has a market capitalization of $56,920.00, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 1-year low of $120.06 and a 1-year high of $169.69.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. equities research analysts expect that Illinois Tool Works Inc. will post 6.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 47.85%.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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