Barclays PLC Sells 203,592 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Barclays PLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 573,374 shares of the industrial products company's stock after selling 203,592 shares during the period. Barclays PLC owned approximately 0.19% of Illinois Tool Works worth $145,385,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITW. Norges Bank bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $806,291,000. Raymond James Financial Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at $203,949,000. Cerity Partners LLC grew its holdings in Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock worth $229,269,000 after acquiring an additional 655,341 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after acquiring an additional 437,397 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW traded up $0.88 during mid-day trading on Friday, hitting $230.68. 889,342 shares of the company traded hands, compared to its average volume of 999,503. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock has a market cap of $67.67 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. The stock has a 50-day moving average price of $249.80 and a two-hundred day moving average price of $257.86.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.60%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research analyst reports. Evercore ISI reduced 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. Barclays reduced their price objective on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Citigroup decreased their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus target price of $260.09.

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.