Brandywine Oak Private Wealth LLC Has $405,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Brandywine Oak Private Wealth LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,545 shares of the industrial products company’s stock after selling 100 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Illinois Tool Works were worth $405,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in Illinois Tool Works by 14.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,101 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 141 shares in the last quarter. Brookstone Capital Management increased its holdings in Illinois Tool Works by 1.6% during the 3rd quarter. Brookstone Capital Management now owns 3,986 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 64 shares in the last quarter. Vicus Capital bought a new stake in Illinois Tool Works during the 3rd quarter worth approximately $270,000. Cambridge Investment Research Advisors Inc. increased its holdings in Illinois Tool Works by 7.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 48,749 shares of the industrial products company’s stock worth $11,227,000 after purchasing an additional 3,363 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth approximately $286,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last 90 days. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ITW. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company cut their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Barclays upped their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $257.89.

Illinois Tool Works Trading Down 0.8 %

Illinois Tool Works stock opened at $242.27 on Thursday. The stock has a market cap of $72.38 billion, a P/E ratio of 23.89, a PEG ratio of 3.46 and a beta of 1.14. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The firm’s fifty day moving average price is $259.40 and its 200-day moving average price is $251.72. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.97 and a current ratio of 1.32.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.5 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.31%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

About Illinois Tool Works

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.