Illinois Tool Works Inc. (ITW) Position Decreased by Northstar Investment Advisors LLC

Northstar Investment Advisors LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,654 shares of the industrial products company’s stock after selling 2,855 shares during the period. Illinois Tool Works accounts for about 2.1% of Northstar Investment Advisors LLC’s holdings, making the stock its 14th biggest position. Northstar Investment Advisors LLC’s holdings in Illinois Tool Works were worth $9,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its position in shares of Illinois Tool Works by 1.3% during the third quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock valued at $3,615,123,000 after purchasing an additional 317,172 shares in the last quarter. BlackRock Inc. increased its holdings in Illinois Tool Works by 2.5% during the third quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after buying an additional 528,550 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Illinois Tool Works by 25.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock worth $975,518,000 after buying an additional 1,401,794 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Illinois Tool Works by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock worth $825,423,000 after buying an additional 274,579 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Illinois Tool Works by 20.9% during the third quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after buying an additional 830,998 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Shares of ITW traded down $1.53 during mid-day trading on Friday, reaching $129.91. The company’s stock had a trading volume of 4,291 shares, compared to its average volume of 1,539,249. The firm has a market cap of $43.13 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.62 and a beta of 1.22. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $179.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.71 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.08%. Illinois Tool Works’s dividend payout ratio is currently 60.70%.

Several equities analysts have recently weighed in on ITW shares. Zacks Investment Research upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Deutsche Bank reiterated a “hold” rating on shares of Illinois Tool Works in a research report on Monday, December 3rd. ValuEngine lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Wells Fargo & Co reiterated a “buy” rating and set a $150.00 target price (down from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. Finally, Gordon Haskett initiated coverage on shares of Illinois Tool Works in a research report on Friday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $143.94.

In related news, CEO Ernest Scott Santi sold 108,885 shares of the company’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the completion of the sale, the chief executive officer now directly owns 149,777 shares in the company, valued at approximately $19,948,798.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 58,736 shares of the company’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

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About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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