Weaver C. Barksdale & Associates Inc. Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Weaver C. Barksdale & Associates Inc. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,565 shares of the industrial products company’s stock after selling 195 shares during the period. Illinois Tool Works makes up 1.8% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 22nd largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Illinois Tool Works were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC grew its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Millstone Evans Group LLC bought a new position in Illinois Tool Works in the fourth quarter worth approximately $31,000. Atlantic Private Wealth LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.3 %

Shares of ITW opened at $254.93 on Wednesday. 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 debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company’s fifty day moving average is $258.65 and its 200 day moving average is $260.74. The stock has a market capitalization of $74.82 billion, a PE ratio of 21.75, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research note on Monday, March 10th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $269.10.

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.