Clarkston Capital Partners LLC Sells 850 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Clarkston Capital Partners LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.8% in the fourth quarter, HoldingsChannel reports. The fund owned 3,045 shares of the industrial products company’s stock after selling 850 shares during the period. Clarkston Capital Partners LLC’s holdings in Illinois Tool Works were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter worth $28,000. Millstone Evans Group LLC bought a new position in Illinois Tool Works in the 4th quarter worth $31,000. Atlantic Private Wealth LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at about $33,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ITW shares. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped 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. Barclays cut their target price on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Evercore ISI dropped their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $268.30.

Illinois Tool Works Stock Down 5.9 %

Shares of NYSE ITW opened at $225.25 on Friday. The stock has a market capitalization of $66.08 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12-month low of $224.94 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $256.77 and its 200-day moving average price is $260.44.

Illinois Tool Works (NYSE:ITW) last released its quarterly 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%. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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 paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.66%. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.