Richwood Investment Advisors LLC Sells 95 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Richwood Investment Advisors LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,025 shares of the industrial products company’s stock after selling 95 shares during the period. Richwood Investment Advisors LLC’s holdings in Illinois Tool Works were worth $260,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Illinois Tool Works in the 4th quarter worth $409,000. KLP Kapitalforvaltning AS bought a new position in Illinois Tool Works during the 4th quarter valued at $38,451,000. Sei Investments Co. lifted its stake in Illinois Tool Works by 4.9% during the 4th quarter. Sei Investments Co. now owns 85,356 shares of the industrial products company’s stock valued at $21,642,000 after acquiring an additional 4,003 shares in the last quarter. Plancorp LLC lifted its stake in Illinois Tool Works by 37.9% during the 4th quarter. Plancorp LLC now owns 1,098 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 302 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in Illinois Tool Works by 45.4% during the 4th quarter. Mizuho Securities USA LLC now owns 25,469 shares of the industrial products company’s stock valued at $6,458,000 after acquiring an additional 7,949 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITW. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on 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. Finally, Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $269.10.

Illinois Tool Works Trading Down 0.9 %

Shares of ITW opened at $251.05 on Friday. The business has a 50-day moving average of $258.48 and a 200 day moving average of $260.46. 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 cap of $73.68 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. 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 earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated 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 sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents 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 Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. 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 quarter. 0.88% of the stock is currently owned by corporate insiders.

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.