Union Bankshares Corp reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,529 shares of the industrial products company’s stock after selling 361 shares during the period. Union Bankshares Corp’s holdings in Illinois Tool Works were worth $2,981,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO boosted its holdings in Illinois Tool Works by 3.4% in the 4th quarter. Indiana Trust & Investment Management CO now owns 2,421 shares of the industrial products company’s stock worth $307,000 after buying an additional 80 shares during the period. Waldron Private Wealth LLC boosted its holdings in Illinois Tool Works by 4.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 2,731 shares of the industrial products company’s stock worth $385,000 after buying an additional 114 shares during the period. Meristem Family Wealth LLC boosted its holdings in Illinois Tool Works by 10.8% in the 3rd quarter. Meristem Family Wealth LLC now owns 1,874 shares of the industrial products company’s stock worth $264,000 after buying an additional 182 shares during the period. Moody National Bank Trust Division boosted its holdings in Illinois Tool Works by 100.0% in the 4th quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock worth $54,000 after buying an additional 210 shares during the period. Finally, JGP Wealth Management LLC boosted its holdings in Illinois Tool Works by 1.0% in the 3rd quarter. JGP Wealth Management LLC now owns 28,240 shares of the industrial products company’s stock worth $3,995,000 after buying an additional 287 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

NYSE:ITW traded down $0.39 during trading hours on Monday, hitting $129.92. The stock had a trading volume of 5,069 shares, compared to its average volume of 1,644,825. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $179.07. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.62 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $1.71 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 7.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Stockholders of record on Monday, December 31st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 60.70%.

Several research analysts recently commented on ITW shares. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Seaport Global Securities downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their price target for the company from $170.00 to $132.00 in a report on Thursday, October 25th. Wells Fargo & Co reissued a “buy” rating and issued a $150.00 price target (down from $160.00) on shares of Illinois Tool Works in a report on Wednesday, October 17th. Morgan Stanley downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $131.00 to $115.00 in a report on Tuesday, December 18th. Finally, Gordon Haskett initiated coverage on shares of Illinois Tool Works in a report on Friday, October 12th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.94.

In other news, CFO Michael M. Larsen sold 58,736 shares of the firm’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ernest Scott Santi sold 108,885 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the sale, the chief executive officer now owns 149,777 shares in the company, valued at approximately $19,948,798.63. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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