59,180 Illinois Tool Works Inc. $ITW Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,837 shares of the industrial products company’s stock after selling 59,180 shares during the period. Pictet Asset Management Holding SA’s holdings in Illinois Tool Works were worth $69,694,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Putney Financial Group LLC acquired a new position in Illinois Tool Works in the third quarter worth $26,000. Continuum Advisory LLC bought a new position in shares of Illinois Tool Works in the second quarter valued at about $29,000. Physician Wealth Advisors Inc. raised its holdings in shares of Illinois Tool Works by 77.8% in the third quarter. Physician Wealth Advisors Inc. now owns 112 shares of the industrial products company’s stock valued at $29,000 after buying an additional 49 shares during the last quarter. Wilkerson Advisory Group LLC lifted its position in Illinois Tool Works by 77.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock worth $31,000 after buying an additional 52 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in Illinois Tool Works during the 1st quarter worth about $32,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.9%

Shares of NYSE ITW opened at $286.41 on Tuesday. The company’s 50 day simple moving average is $271.98 and its 200 day simple moving average is $271.53. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The firm has a market capitalization of $81.40 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.22 and a beta of 0.92. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.29 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.03. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 11.49 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ITW shares. The Goldman Sachs Group restated a “sell” rating and issued a $270.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, October 27th. UBS Group set a $277.00 target price on shares of Illinois Tool Works in a research report on Friday, October 9th. Citigroup decreased their price target on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $350.00 to $270.00 in a research report on Friday, October 9th. Finally, Robert W. Baird upped their price objective on Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $276.33.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ernest Santi sold 60,000 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $292.87, for a total value of $17,572,200.00. Following the completion of the transaction, the director directly owned 266,333 shares in the company, valued at $78,000,945.71. The trade was a 18.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,708 shares of company stock worth $29,546,740 over the last 90 days. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions.

ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.

The company serves customers across North America, Europe, Asia, and other international markets through its manufacturing and sales operations.