Flputnam Investment Management Co. Has $3.41 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Flputnam Investment Management Co. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 63.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,457 shares of the industrial products company’s stock after selling 23,395 shares during the quarter. Flputnam Investment Management Co.’s holdings in Illinois Tool Works were worth $3,412,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ITW. Baron Wealth Management LLC raised its stake in Illinois Tool Works by 4.5% during the 4th 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. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp grew its position in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. increased its stake in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the last quarter. Finally, TrinityPoint Wealth LLC lifted its position in shares of Illinois Tool Works by 1.0% during the 3rd quarter. TrinityPoint Wealth LLC now owns 4,208 shares of the industrial products company’s stock worth $1,103,000 after buying an additional 43 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITW. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $269.30.

Insider Transactions at Illinois Tool Works

In related news, 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 transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 1.1 %

ITW opened at $263.99 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market cap of $77.48 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average of $257.00 and a 200 day moving average of $259.28.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 return on equity of 95.39% and a net margin of 21.94%. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared 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. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 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.