Van Lanschot Kempen Investment Management N.V. Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Van Lanschot Kempen Investment Management N.V. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,814 shares of the industrial products company's stock after selling 3,390 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Illinois Tool Works were worth $15,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $806,291,000. Raymond James Financial Inc. acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $203,949,000. Cerity Partners LLC lifted its stake in Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock valued at $229,269,000 after buying an additional 655,341 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after acquiring an additional 437,397 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after acquiring an additional 398,676 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ITW shares. Evercore ISI decreased their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. Barclays decreased their price objective on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Two research 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $260.09.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

NYSE:ITW traded down $2.65 during trading hours on Friday, hitting $239.42. The company's stock had a trading volume of 1,285,772 shares, compared to its average volume of 1,000,750. The business's 50-day moving average is $247.58 and its two-hundred day moving average is $257.15. The company has a market capitalization of $70.24 billion, a PE ratio of 20.43, a PEG ratio of 4.56 and a beta of 1.12. 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 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

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.