Coerente Capital Management Sells 923 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Coerente Capital Management lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,736 shares of the industrial products company’s stock after selling 923 shares during the period. Illinois Tool Works accounts for approximately 5.3% of Coerente Capital Management’s portfolio, making the stock its 3rd biggest holding. Coerente Capital Management’s holdings in Illinois Tool Works were worth $25,863,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in Illinois Tool Works by 106,553.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after buying an additional 7,178,474 shares during the period. Norges Bank acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $708,259,000. Morgan Stanley grew its position in shares of Illinois Tool Works by 59.2% in the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after acquiring an additional 1,707,780 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after acquiring an additional 1,238,239 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its position in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after acquiring an additional 675,000 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $265.23 on Tuesday. The business has a 50 day moving average price of $260.76 and a 200 day moving average price of $248.53. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a market cap of $79.23 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 4.61 and a beta of 1.13.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $2.34 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Research analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. Illinois Tool Works’s payout ratio is presently 57.49%.

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ITW shares. Stifel Nicolaus lifted their target price on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Barclays raised their price target on Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a report on Monday, February 5th. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Citigroup raised their price target on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $245.50.

Read Our Latest Stock Analysis on Illinois Tool Works

Illinois Tool Works Profile

(Free Report)

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.

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

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