Pinnacle Wealth Management Advisory Group LLC Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Pinnacle Wealth Management Advisory Group LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,636 shares of the industrial products company’s stock after selling 377 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Illinois Tool Works were worth $5,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC boosted its position in shares of Illinois Tool Works by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 41 shares in the last quarter. Summit Financial LLC boosted its position in shares of Illinois Tool Works by 1.6% during the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 41 shares in the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Illinois Tool Works by 4.5% in the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after buying an additional 46 shares during the period. PFG Advisors boosted its holdings in shares of Illinois Tool Works by 0.7% in the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 46 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Illinois Tool Works by 1.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 45,676 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.12, for a total value of $11,698,537.12. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,606,361.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,471 shares of company stock valued at $23,248,816. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $1.06 during trading on Thursday, reaching $248.46. The company’s stock had a trading volume of 197,087 shares, compared to its average volume of 1,227,674. The stock has a 50-day moving average price of $258.17 and a two-hundred day moving average price of $252.34. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The stock has a market capitalization of $74.14 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.29 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Barclays reduced their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $257.78.

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.