Cadinha & Co. LLC Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cadinha & Co. LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,811 shares of the industrial products company’s stock after selling 69 shares during the period. Cadinha & Co. LLC’s holdings in Illinois Tool Works were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pensionfund Sabic raised its holdings in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its stake in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc purchased a new stake in Illinois Tool Works in the fourth quarter valued at $1,729,000. Wolverine Asset Management LLC acquired a new position in Illinois Tool Works in the third quarter valued at $1,179,000. Finally, Czech National Bank grew its holdings in shares of Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.2 %

Shares of NYSE:ITW opened at $256.50 on Friday. 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 quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm’s 50-day simple moving average is $264.26 and its 200-day simple moving average is $255.45. The company has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised 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. Citigroup cut their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $270.11.

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.