Mountain Pacific Investment Advisers Inc. ID Lowers Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Mountain Pacific Investment Advisers Inc. ID lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,134 shares of the industrial products company’s stock after selling 150 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Illinois Tool Works were worth $2,916,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.0 %

NYSE:ITW opened at $248.28 on Friday. The firm has a market capitalization of $74.17 billion, a P/E ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The company’s fifty day moving average price is $260.04 and its 200-day moving average price is $251.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Analyst Ratings Changes

ITW has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Barclays boosted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $257.00.

Insider Buying and Selling

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 0.88% of the company’s stock.

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.