Cadinha & Co. LLC Sells 198 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cadinha & Co. LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,613 shares of the industrial products company’s stock after selling 198 shares during the period. Cadinha & Co. LLC’s holdings in Illinois Tool Works were worth $400,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at approximately $26,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at $26,000. Glass Jacobson Investment Advisors llc boosted its holdings in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ITW shares. UBS Group reduced their target price on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Barclays cut their price target on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Evercore ISI cut their target price on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.42.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.6%

ITW opened at $245.34 on Friday. The stock has a market capitalization of $71.88 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business’s 50-day simple moving average is $240.30 and its 200-day simple moving average is $254.24. 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) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.45%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

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.