Leisure Capital Management Sells 1,080 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Leisure Capital Management reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,530 shares of the industrial products company’s stock after selling 1,080 shares during the quarter. Illinois Tool Works makes up about 0.9% of Leisure Capital Management’s portfolio, making the stock its 29th largest position. Leisure Capital Management’s holdings in Illinois Tool Works were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Illinois Tool Works by 23,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after acquiring an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Illinois Tool Works by 77.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after acquiring an additional 260,679 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Illinois Tool Works by 57.1% in the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock valued at $161,131,000 after acquiring an additional 254,321 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the sale, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 over the last ninety days. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW traded up $0.12 during trading hours on Friday, hitting $248.28. 947,179 shares of the company were exchanged, compared to its average volume of 1,023,968. The firm’s fifty day moving average is $260.04 and its 200 day moving average is $251.37. The company has a market cap of $74.17 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ITW shares. Barclays boosted their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Stifel Nicolaus upped their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Citigroup upped their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $257.00.

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.