Hsbc Holdings PLC Reduces Stake in Illinois Tool Works Inc. (NYSE:ITW)

Hsbc Holdings PLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 605,458 shares of the industrial products company's stock after selling 42,639 shares during the period. Hsbc Holdings PLC owned about 0.21% of Illinois Tool Works worth $153,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Illinois Tool Works by 1.7% during the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock valued at $203,619,000 after purchasing an additional 12,988 shares during the last quarter. Tudor Financial Inc. acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $759,000. World Investment Advisors LLC raised its stake in shares of Illinois Tool Works by 6.7% during the third quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company's stock worth $4,186,000 after buying an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Illinois Tool Works by 128.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company's stock valued at $6,084,000 after purchasing an additional 13,062 shares during the last quarter. Finally, Franklin Resources Inc. raised its position 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 worth $358,321,000 after purchasing an additional 398,676 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Up 0.1 %

Shares of NYSE:ITW traded up $0.16 during mid-day trading on Monday, reaching $239.66. 316,539 shares of the company's stock were exchanged, compared to its average volume of 998,087. The firm has a market capitalization of $70.31 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 4.56 and a beta of 1.12. The business's fifty day moving average price is $247.58 and its 200-day moving average price is $257.15. 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 twelve month low of $214.66 and a twelve month high of $279.13.

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, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.50%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was 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 of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITW shares. JPMorgan Chase & Co. cut their price objective on shares of 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. Barclays cut 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 cut 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. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Evercore ISI cut their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $260.09.

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.