Illinois Tool Works Inc. (ITW) Holdings Cut by Foster Dykema Cabot & Co. Inc. MA

Foster Dykema Cabot & Co. Inc. MA trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,396 shares of the industrial products company’s stock after selling 400 shares during the period. Foster Dykema Cabot & Co. Inc. MA’s holdings in Illinois Tool Works were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Vanguard Group Inc lifted its holdings in shares of Illinois Tool Works by 1.3% in the 3rd 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 during the last quarter. BlackRock Inc. increased its position in Illinois Tool Works by 2.5% during the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after purchasing an additional 528,550 shares during the period. Massachusetts Financial Services Co. MA increased its position in Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock worth $975,518,000 after purchasing an additional 1,401,794 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock worth $825,423,000 after acquiring an additional 274,579 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock valued at $677,888,000 after buying an additional 830,998 shares in the last quarter. 79.42% of the stock is owned by institutional investors.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 58,736 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sundaram Nagarajan sold 18,651 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the sale, the insider now directly owns 44,954 shares in the company, valued at $6,192,413.50. The disclosure for this sale can be found here. Insiders sold a total of 200,772 shares of company stock worth $26,864,670 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

A number of research analysts have weighed in on ITW shares. Wells Fargo & Co reissued a “buy” rating and set a $150.00 price target (down previously from $160.00) on shares of Illinois Tool Works in a research note on Wednesday, October 17th. Citigroup set a $148.00 price target on Illinois Tool Works and gave the company a “buy” rating in a report on Thursday, October 25th. Morgan Stanley set a $131.00 price target on Illinois Tool Works and gave the company a “hold” rating in a report on Thursday, October 25th. Deutsche Bank set a $134.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, Robert W. Baird set a $130.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $137.93.

Shares of ITW stock opened at $138.64 on Wednesday. The firm has a market capitalization of $46.00 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.21 and a beta of 1.19. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $171.83.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the company posted $1.70 EPS. Illinois Tool Works’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 7.97 earnings per share for the current fiscal year.

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Illinois Tool Works Profile

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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