Bryn Mawr Capital Management LLC Sells 105 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bryn Mawr Capital Management LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,854 shares of the industrial products company’s stock after selling 105 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Illinois Tool Works were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the third quarter valued at about $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $37,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of several recent analyst reports. Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company dropped their target price on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $269.30.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’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 transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 1.2 %

ITW opened at $261.30 on Thursday. The firm has a 50 day simple moving average of $256.84 and a 200 day simple moving average of $258.93. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market cap of $76.69 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s payout ratio is currently 51.19%.

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.