Geller Advisors LLC Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

Geller Advisors LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,504 shares of the industrial products company’s stock after purchasing an additional 75 shares during the quarter. Illinois Tool Works comprises 0.3% of Geller Advisors LLC’s portfolio, making the stock its 23rd largest position. Geller Advisors LLC’s holdings in Illinois Tool Works were worth $4,210,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock worth $6,675,473,000 after buying an additional 94,601 shares during the last quarter. Northern Trust Corp boosted its stake in Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock worth $1,620,491,000 after purchasing an additional 99,753 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Illinois Tool Works by 1.8% during the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company’s stock valued at $1,047,837,000 after purchasing an additional 71,934 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock valued at $873,071,000 after buying an additional 95,925 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ITW shares. Barclays dropped their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus upped their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, UBS Group decreased their price target on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Three research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.67.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE ITW opened at $242.40 on Friday. The stock has a market capitalization of $71.11 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $243.34 and its 200-day moving average price is $255.87.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. Illinois Tool Works’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. Illinois Tool Works’s payout ratio is 52.77%.

Insider Buying and Selling

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company’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 sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last 90 days. Company insiders own 0.88% of the company’s stock.

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.