First Hawaiian Bank Sells 59 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First Hawaiian Bank decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 866 shares of the industrial products company’s stock after selling 59 shares during the quarter. First Hawaiian Bank’s holdings in Illinois Tool Works were worth $220,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ITW. Pensionfund Sabic lifted its holdings in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares during the period. Franklin Resources Inc. lifted its stake in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $1,179,000. Daiwa Securities Group Inc. increased its stake in shares of Illinois Tool Works by 11.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after purchasing an additional 3,903 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after buying an additional 9,825 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITW has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup upped their price target on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $271.67.

Illinois Tool Works Stock Down 1.1 %

Shares of NYSE:ITW opened at $245.01 on Friday. The firm has a market cap of $72.35 billion, a P/E ratio of 21.19, a P/E/G ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The business has a fifty day simple moving average of $265.91 and a 200 day simple moving average of $254.99. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. Analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Illinois Tool Works Profile

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.