Richard C. Young & CO. LTD. Sells 732 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Richard C. Young & CO. LTD. cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,272 shares of the industrial products company’s stock after selling 732 shares during the period. Illinois Tool Works accounts for approximately 1.9% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 19th biggest holding. Richard C. Young & CO. LTD.’s holdings in Illinois Tool Works were worth $13,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new stake in Illinois Tool Works during the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 2.1 %

Shares of ITW stock traded up $5.01 on Friday, reaching $242.81. 2,501,366 shares of the stock were exchanged, compared to its average volume of 1,209,904. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock has a market cap of $72.45 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. The firm has a 50 day moving average of $251.70 and a two-hundred day moving average of $254.25. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. During the same period in the previous year, the company posted $2.33 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITW. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Citigroup increased their target price 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. Barclays reduced their price objective on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company decreased their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $257.78.

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.