Illinois Tool Works Inc. (NYSE:ITW) is Dearborn Partners LLC’s 6th Largest Position

Dearborn Partners LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,653 shares of the industrial products company’s stock after buying an additional 13,977 shares during the quarter. Illinois Tool Works makes up 2.4% of Dearborn Partners LLC’s investment portfolio, making the stock its 6th largest position. Dearborn Partners LLC owned about 0.08% of Illinois Tool Works worth $47,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Delta Asset Management LLC TN grew its holdings in Illinois Tool Works by 8.0% in the third quarter. Delta Asset Management LLC TN now owns 809 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 60 shares during the period. Blue Chip Partners Inc. grew its holdings in Illinois Tool Works by 1.6% in the third quarter. Blue Chip Partners Inc. now owns 3,812 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 61 shares during the period. Gables Capital Management Inc. grew its holdings in Illinois Tool Works by 3.4% in the third quarter. Gables Capital Management Inc. now owns 1,858 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 61 shares during the period. Sage Capital Advisors llc grew its holdings in Illinois Tool Works by 3.0% in the fourth quarter. Sage Capital Advisors llc now owns 2,195 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 63 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Illinois Tool Works by 6.7% in the third quarter. Benjamin Edwards Inc. now owns 1,015 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 77.88% of the company’s stock.

In other news, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.69, for a total transaction of $6,404,208.69. Following the transaction, the insider now directly owns 65,674 shares of the company’s stock, valued at $11,275,569.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Randall J. Scheuneman sold 11,977 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the transaction, the chief accounting officer now directly owns 18,649 shares in the company, valued at $3,200,727.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,273 shares of company stock worth $10,639,213. Corporate insiders own 0.87% of the company’s stock.

ITW opened at $175.86 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 2.57. Illinois Tool Works Inc. has a 52-week low of $130.00 and a 52-week high of $182.34. The company has a 50 day moving average of $178.82 and a two-hundred day moving average of $163.96. The company has a market cap of $56.66 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.92 and a beta of 1.21.

Several equities research analysts have issued reports on ITW shares. Morgan Stanley decreased their price objective on shares of Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating for the company in a research note on Wednesday, October 16th. Deutsche Bank boosted their price objective on shares of Illinois Tool Works from $142.00 to $164.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Citigroup decreased their price objective on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Credit Suisse Group boosted their price objective on shares of Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price objective for the company. in a research note on Monday, October 28th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $154.21.

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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