Institutional & Family Asset Management LLC Has $3.13 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Institutional & Family Asset Management LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,784 shares of the industrial products company’s stock after selling 632 shares during the quarter. Institutional & Family Asset Management LLC’s holdings in Illinois Tool Works were worth $3,127,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Pearl River Capital LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $25,000. Rational Advisors LLC lifted its holdings in shares of Illinois Tool Works by 1,492.3% during the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 194 shares in the last quarter. WP Advisors LLC bought a new position in shares of Illinois Tool Works during the 1st quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Illinois Tool Works by 512.8% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Finally, Athena Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $41,000. 77.45% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on ITW shares. Morgan Stanley set a $134.00 price objective on Illinois Tool Works and gave the company a “sell” rating in a report on Friday, April 26th. UBS Group boosted their target price on Illinois Tool Works from $137.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. upgraded Illinois Tool Works from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $120.00 to $144.00 in a research note on Friday, April 26th. Citigroup set a $161.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Northcoast Research cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price on the stock. in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $140.41.

In other Illinois Tool Works news, EVP John R. Hartnett sold 14,323 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total value of $2,199,296.65. Following the transaction, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at approximately $4,866,767.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $150.17, for a total value of $2,242,188.27. Following the completion of the transaction, the vice president now directly owns 21,603 shares in the company, valued at $3,244,122.51. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Shares of Illinois Tool Works stock traded up $1.73 on Friday, reaching $150.81. 1,616,038 shares of the company were exchanged, compared to its average volume of 1,366,669. The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 1.87. The firm has a market cap of $48.85 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.46 and a beta of 1.24. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $158.69. The firm’s 50-day moving average is $148.65.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 7.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, June 27th. Illinois Tool Works’s payout ratio is presently 52.63%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Further Reading: Asset Allocation Models, Which is Right For You?

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.