USS Investment Management Ltd Has $16.12 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

USS Investment Management Ltd cut its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 63,542 shares of the industrial products company's stock after selling 7,102 shares during the period. USS Investment Management Ltd's holdings in Illinois Tool Works were worth $16,116,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $28,000. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Activity

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred 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 approximately $15,120,802.68. This represents a 46.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction dated 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 directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 1.1%

Shares of NYSE ITW traded down $2.68 on Monday, hitting $242.03. The company had a trading volume of 752,546 shares, compared to its average volume of 1,017,704. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market capitalization of $70.91 billion, a P/E ratio of 20.65, a PEG ratio of 4.56 and a beta of 1.12. The business has a 50 day moving average of $241.07 and a two-hundred day moving average of $254.78.

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

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Evercore ISI lowered their price target on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Barclays dropped their price target on 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. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $253.42.

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.