Harrington Investments INC Sells 217 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Harrington Investments INC reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,019 shares of the industrial products company’s stock after selling 217 shares during the period. Illinois Tool Works makes up about 2.1% of Harrington Investments INC’s investment portfolio, making the stock its 14th largest position. Harrington Investments INC’s holdings in Illinois Tool Works were worth $2,868,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in Illinois Tool Works by 71,229.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,120,637 shares of the industrial products company’s stock valued at $383,093,000 after buying an additional 2,117,664 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Illinois Tool Works by 25.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,805,831 shares of the industrial products company’s stock valued at $511,363,000 after purchasing an additional 562,273 shares during the last quarter. Briar Hall Management LLC increased its holdings in Illinois Tool Works by 2.0% in the third quarter. Briar Hall Management LLC now owns 26,352,224 shares of the industrial products company’s stock valued at $4,760,529,000 after purchasing an additional 520,540 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Illinois Tool Works in the first quarter valued at about $91,466,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Illinois Tool Works by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock worth $1,236,063,000 after acquiring an additional 326,412 shares in the last quarter. 79.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $246.26, for a total value of $14,809,337.62. Following the completion of the transaction, the insider now directly owns 40,072 shares in the company, valued at approximately $9,868,130.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ernest Scott Santi sold 235,656 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total value of $58,039,716.24. Following the transaction, the chief executive officer now owns 213,538 shares of the company’s stock, valued at $52,592,274.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the transaction, the insider now directly owns 40,072 shares in the company, valued at approximately $9,868,130.72. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded down $0.53 during trading on Friday, reaching $229.81. The company had a trading volume of 3,898,032 shares, compared to its average volume of 962,477. The company has a fifty day moving average of $234.04 and a two-hundred day moving average of $217.85. The stock has a market capitalization of $70.11 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 3.49 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $173.52 and a 12 month high of $253.37. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.26). The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. Illinois Tool Works’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 9.61 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be given a $1.31 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio is 53.58%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ITW shares. Credit Suisse Group upped their price objective on Illinois Tool Works from $259.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. UBS Group raised their price objective on Illinois Tool Works from $213.00 to $245.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Barclays increased their target price on Illinois Tool Works from $172.00 to $184.00 and gave the stock an “underweight” rating in a research note on Thursday, January 5th. Wells Fargo & Company increased their target price on Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. Finally, Citigroup raised their price objective on Illinois Tool Works from $232.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $223.07.

Illinois Tool Works Company Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.