Tradition Capital Management LLC Reduces Stake in Illinois Tool Works Inc. (ITW)

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Tradition Capital Management LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,080 shares of the industrial products company’s stock after selling 550 shares during the quarter. Tradition Capital Management LLC’s holdings in Illinois Tool Works were worth $1,530,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $38,000. Toth Financial Advisory Corp grew its holdings in shares of Illinois Tool Works by 100.0% during the fourth quarter. Toth Financial Advisory Corp now owns 350 shares of the industrial products company’s stock worth $44,000 after buying an additional 175 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Illinois Tool Works by 101.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 374 shares of the industrial products company’s stock worth $47,000 after buying an additional 188 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Illinois Tool Works by 100.0% in the fourth quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 210 shares during the period. Finally, NuWave Investment Management LLC grew its holdings in shares of Illinois Tool Works by 3,530.8% in the fourth quarter. NuWave Investment Management LLC now owns 472 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 459 shares during the period. 76.28% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works stock opened at $135.72 on Friday. The company has a market capitalization of $44.80 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.20 and a beta of 1.19. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $171.83. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63.

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

In other news, CFO Michael M. Larsen sold 58,736 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sundaram Nagarajan sold 18,651 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $137.75, for a total value of $2,569,175.25. Following the sale, the insider now directly owns 44,954 shares of the company’s stock, valued at $6,192,413.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,772 shares of company stock worth $26,864,670. Insiders own 0.82% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Credit Suisse Group reissued a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. JPMorgan Chase & Co. lowered shares of 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. Robert W. Baird set a $130.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Wednesday, October 24th. Wells Fargo & Co set a $145.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a report on Thursday, October 25th. Finally, Seaport Global Securities cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $132.00 in a research report on Thursday, October 25th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $137.93.

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Illinois Tool Works 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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