Williams Jones Wealth Management LLC. Sells 1,535 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Williams Jones Wealth Management LLC. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,441 shares of the industrial products company's stock after selling 1,535 shares during the quarter. Williams Jones Wealth Management LLC.'s holdings in Illinois Tool Works were worth $13,804,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Woodline Partners LP acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $3,492,000. iSAM Funds UK Ltd bought a new stake in Illinois Tool Works during the fourth quarter worth about $1,005,000. Westwood Holdings Group Inc. acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $798,000. Twinbeech Capital LP bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $1,752,000. Finally, Two Sigma Investments LP increased its position in shares of Illinois Tool Works by 23.4% during the 4th quarter. Two Sigma Investments LP now owns 6,214 shares of the industrial products company's stock worth $1,576,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. This trade represents a 46.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last three months. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Up 0.1%

ITW opened at $251.66 on Tuesday. The stock has a fifty day moving average of $241.76 and a 200-day moving average of $255.46. The company has a market capitalization of $73.74 billion, a P/E ratio of 21.47, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a fifty-two week low of $214.66 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.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping 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 business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm earned $2.44 earnings per share. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. Citigroup decreased their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. UBS Group dropped their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Robert W. Baird lifted their price target on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $253.42.

Illinois Tool Works Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.