ABC Arbitrage SA Invests $1.22 Million in Illinois Tool Works Inc. (NYSE:ITW)

ABC Arbitrage SA bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,809 shares of the industrial products company's stock, valued at approximately $1,219,000.

Several other hedge funds have also recently modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.7 %

Shares of Illinois Tool Works stock traded up $1.79 on Wednesday, reaching $264.04. 811,647 shares of the company were exchanged, compared to its average volume of 969,320. The stock's 50 day moving average price is $257.57 and its 200-day moving average price is $258.02. The company has a market cap of $77.97 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 4.42 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITW. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $269.30.

Illinois Tool Works Company 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.