Illinois Tool Works Inc. (ITW) Holdings Trimmed by Checchi Capital Advisers LLC


Checchi Capital Advisers LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,292 shares of the industrial products company’s stock after selling 467 shares during the period. Checchi Capital Advisers LLC’s holdings in Illinois Tool Works were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC increased its holdings in shares of Illinois Tool Works by 1.8% during the fourth quarter. Douglas Lane & Associates LLC now owns 116,094 shares of the industrial products company’s stock worth $14,708,000 after buying an additional 2,089 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Illinois Tool Works by 36.4% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,222 shares of the industrial products company’s stock worth $878,000 after buying an additional 1,662 shares in the last quarter. North Star Asset Management Inc. increased its holdings in shares of Illinois Tool Works by 6.5% during the third quarter. North Star Asset Management Inc. now owns 57,309 shares of the industrial products company’s stock worth $8,088,000 after buying an additional 3,510 shares in the last quarter. United Capital Management of KS Inc. increased its holdings in shares of Illinois Tool Works by 16.5% during the fourth quarter. United Capital Management of KS Inc. now owns 10,132 shares of the industrial products company’s stock worth $1,284,000 after buying an additional 1,435 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Illinois Tool Works by 1.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,028 shares of the industrial products company’s stock worth $9,252,000 after buying an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.


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NYSE ITW opened at $144.21 on Tuesday. The firm has a market capitalization of $47.85 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.28 and a beta of 1.19. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $171.83. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.63 and a quick ratio of 1.26.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the business posted $1.70 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.97 EPS for the current fiscal year.


In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,651 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the completion of the sale, the insider now directly owns 44,954 shares in the company, valued at approximately $6,192,413.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ernest Scott Santi sold 108,885 shares of the stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total value of $14,502,393.15. Following the sale, the chief executive officer now owns 149,777 shares of the company’s stock, valued at $19,948,798.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,772 shares of company stock valued at $26,864,670. Company insiders own 0.82% of the company’s stock.


Several research analysts have recently issued reports on ITW shares. Citigroup downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price target for the company. in a report on Monday, January 14th. Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $132.00 in a report on Thursday, October 25th. Morgan Stanley downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $131.00 to $115.00 in a report on Tuesday, December 18th. Deutsche Bank downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and decreased their price objective for the company from $133.00 to $125.00 in a report on Sunday, December 16th. Finally, JPMorgan Chase & Co. downgraded Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Thursday, January 10th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $137.93.


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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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