Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Harrington Investments INC

Harrington Investments INC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,600 shares of the industrial products company’s stock after purchasing an additional 82 shares during the period. Illinois Tool Works makes up 1.6% of Harrington Investments INC’s holdings, making the stock its 19th largest position. Harrington Investments INC’s holdings in Illinois Tool Works were worth $2,941,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. lifted its stake in Illinois Tool Works by 6.4% during the 3rd quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock valued at $499,000 after acquiring an additional 114 shares during the period. Harbour Investments Inc. lifted its position in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Illinois Tool Works by 6.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,967 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 126 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 4,737 shares of the industrial products company’s stock valued at $1,241,000 after buying an additional 52 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Illinois Tool Works by 1.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,462 shares of the industrial products company’s stock valued at $1,431,000 after buying an additional 100 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the topic of several recent research reports. Evercore ISI lowered their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. 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. Finally, JPMorgan Chase & Co. dropped 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $269.10.

Illinois Tool Works Trading Up 1.7 %

Shares of ITW stock opened at $254.72 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market capitalization of $74.76 billion, a P/E ratio of 21.73, a PEG ratio of 4.56 and a beta of 1.13. The stock’s fifty day moving average is $257.83 and its two-hundred day moving average is $260.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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 expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last three months. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Company 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.