Mackenzie Financial Corp Sells 2,479 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mackenzie Financial Corp trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,040 shares of the industrial products company's stock after selling 2,479 shares during the quarter. Mackenzie Financial Corp's holdings in Illinois Tool Works were worth $18,013,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Baron Wealth Management LLC increased its stake in Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after acquiring an additional 39 shares during the last quarter. F M Investments LLC lifted its position in Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. boosted its stake in Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after buying an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after acquiring an additional 46 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its stake in shares of Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.4%

Shares of NYSE:ITW traded down $0.90 on Friday, hitting $244.83. The company had a trading volume of 2,181,969 shares, compared to its average volume of 1,018,532. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm's 50-day simple moving average is $240.30 and its two-hundred day simple moving average is $254.24. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Barclays lowered their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Evercore ISI dropped their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price objective 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. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $253.42.

Insider Buying and Selling

In other 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 value of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

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.