Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,180 shares of the industrial products company's stock after selling 1,329 shares during the period. Woodley Farra Manion Portfolio Management Inc.'s holdings in Illinois Tool Works were worth $5,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ITW. F M Investments LLC grew its position in Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after acquiring an additional 42 shares in the last quarter. Trust Co of the South raised its stake in Illinois Tool Works by 2.9% in the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares during the last quarter. Northern Financial Advisors Inc grew its holdings in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock valued at $582,000 after buying an additional 44 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after purchasing an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Illinois Tool Works by 3.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after acquiring an additional 46 shares during the period. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITW. UBS Group raised their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus target price of $259.08.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the transaction, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $4.06 on Friday, reaching $251.91. The company's stock had a trading volume of 1,236,431 shares, compared to its average volume of 1,107,026. The stock's 50-day moving average is $250.93 and its two-hundred day moving average is $250.15. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.16. The stock has a market capitalization of $73.81 billion, a P/E ratio of 22.08, a PEG ratio of 5.29 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $2.54 earnings per share. The business's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

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.