Broadleaf Partners LLC Sells 73 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Broadleaf Partners LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,086 shares of the industrial products company’s stock after selling 73 shares during the period. Broadleaf Partners LLC’s holdings in Illinois Tool Works were worth $275,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ITW. GKV Capital Management Co. Inc. bought a new stake in Illinois Tool Works in the fourth quarter valued at about $254,000. Farringdon Capital Ltd. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $243,000. NewEdge Advisors LLC increased its stake in shares of Illinois Tool Works by 2.8% in the 4th quarter. NewEdge Advisors LLC now owns 186,254 shares of the industrial products company’s stock valued at $47,226,000 after acquiring an additional 5,140 shares during the last quarter. Jump Financial LLC boosted its stake in Illinois Tool Works by 132.2% during the 4th quarter. Jump Financial LLC now owns 2,006 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $1,310,000. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Shares of ITW opened at $230.68 on Friday. The stock has a market capitalization of $67.67 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm has a fifty day simple moving average of $250.36 and a 200 day simple moving average of $258.12. 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 posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus lowered their price target on Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $260.09.

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.