Schulhoff & Co. Inc. Lowers Position in Illinois Tool Works Inc. (NYSE:ITW)

Schulhoff & Co. Inc. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,262 shares of the industrial products company’s stock after selling 40 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Illinois Tool Works were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in shares of Illinois Tool Works by 29.5% during the fourth quarter. QRG Capital Management Inc. now owns 20,355 shares of the industrial products company’s stock worth $5,161,000 after acquiring an additional 4,637 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after purchasing an additional 437,397 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Illinois Tool Works by 3.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 16,884 shares of the industrial products company’s stock worth $4,281,000 after purchasing an additional 563 shares during the period. Kovack Advisors Inc. lifted its stake in Illinois Tool Works by 8.5% in the fourth quarter. Kovack Advisors Inc. now owns 1,753 shares of the industrial products company’s stock worth $444,000 after purchasing an additional 138 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Illinois Tool Works by 2.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 119,329 shares of the industrial products company’s stock valued at $30,257,000 after buying an additional 3,400 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by insiders.

Illinois Tool Works Trading Down 0.1 %

NYSE:ITW opened at $261.18 on Friday. The company has a 50 day simple moving average of $256.90 and a two-hundred day simple moving average of $258.94. The company has a market cap of $76.65 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITW. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered 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 report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.30.

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.