Pathstone Holdings LLC Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Pathstone Holdings LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,637 shares of the industrial products company’s stock after selling 146 shares during the quarter. Pathstone Holdings LLC’s holdings in Illinois Tool Works were worth $13,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Baron Wealth Management LLC boosted its stake in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after buying an additional 39 shares during the period. F M Investments LLC lifted its position in shares of Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 42 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its position in shares of Illinois Tool Works by 0.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock worth $2,343,000 after purchasing an additional 47 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Barclays decreased their price objective on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI decreased their price objective 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $253.67.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $248.10 on Friday. The company has a market capitalization of $72.69 billion, a PE ratio of 21.17, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a 50-day simple moving average of $241.83 and a two-hundred day simple moving average of $255.67. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works’s payout ratio is 52.77%.

Illinois Tool Works Profile

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.