Douglas Lane & Associates LLC Sells 11,018 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Douglas Lane & Associates LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,271 shares of the industrial products company’s stock after selling 11,018 shares during the period. Douglas Lane & Associates LLC’s holdings in Illinois Tool Works were worth $6,915,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth $44,000. PFG Investments LLC grew its holdings in Illinois Tool Works by 2.1% during the 2nd quarter. PFG Investments LLC now owns 3,948 shares of the industrial products company’s stock worth $935,000 after acquiring an additional 80 shares in the last quarter. LGT Fund Management Co Ltd. purchased a new position in Illinois Tool Works during the 2nd quarter valued at about $948,000. Daiwa Securities Group Inc. raised its holdings in shares of Illinois Tool Works by 9.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,035 shares of the industrial products company’s stock valued at $7,828,000 after purchasing an additional 2,909 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of Illinois Tool Works by 61.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 1,370 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $247.66 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company’s fifty day moving average price is $266.54 and its 200-day moving average price is $254.90. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market capitalization of $73.13 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $268.00.

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.