Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,612 shares of the industrial products company’s stock after selling 82 shares during the period. Illinois Tool Works makes up 1.0% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Argonautica Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. National Bank of Canada FI raised its holdings in Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares during the period. Geode Capital Management LLC lifted its position in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Illinois Tool Works by 787.3% during the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after buying an additional 165,607 shares during the period. Finally, State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Up 1.1 %

ITW stock opened at $264.41 on Wednesday. The company’s 50 day simple moving average is $256.84 and its 200-day simple moving average is $258.91. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-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. The firm has a market capitalization of $77.60 billion, a P/E ratio of 22.56, a P/E/G ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) 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, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITW. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays lowered their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on 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, 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 note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $269.30.

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.