IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.22 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,796 shares of the industrial products company’s stock after selling 262 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Illinois Tool Works were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $31,000. Atlantic Private Wealth LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 1.6 %

Illinois Tool Works stock opened at $251.86 on Friday. The firm has a market cap of $73.92 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 4.56 and a beta of 1.13. The firm has a fifty day moving average price of $258.61 and a two-hundred day moving average price of $260.64. 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 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 announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on 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 $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 in the last ninety days. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITW shares. Evercore ISI dropped their target price 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 cut their price objective 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. JPMorgan Chase & Co. decreased their target price 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. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $268.30.

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.