Metis Global Partners LLC Sells 1,309 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Metis Global Partners LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,392 shares of the industrial products company’s stock after selling 1,309 shares during the quarter. Metis Global Partners LLC’s holdings in Illinois Tool Works were worth $4,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.5 %

Shares of ITW stock traded up $1.27 during midday trading on Monday, reaching $245.19. 756,535 shares of the stock were exchanged, compared to its average volume of 1,252,292. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The firm has a market cap of $73.25 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. The company’s 50 day moving average is $258.75 and its two-hundred day moving average is $252.03. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $2.33 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s payout ratio is presently 55.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup raised their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus upped their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Barclays decreased their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $257.78.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on 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 owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders sold a total of 139,471 shares of company stock valued at $35,970,816 in the last quarter. 0.88% of the stock is owned by insiders.

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.