Aljian Capital Management LLC Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Aljian Capital Management LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 169.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,890 shares of the industrial products company's stock after buying an additional 6,851 shares during the period. Illinois Tool Works comprises approximately 0.6% of Aljian Capital Management LLC's holdings, making the stock its 23rd largest holding. Aljian Capital Management LLC's holdings in Illinois Tool Works were worth $2,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Franklin Resources Inc. boosted its stake in shares of 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 valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock valued at $847,610,000 after acquiring an additional 322,192 shares during the period. National Bank of Canada FI lifted its stake in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock worth $106,352,000 after purchasing an additional 308,935 shares during the last quarter. Geode Capital Management LLC boosted its position in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company's stock valued at $48,945,000 after buying an additional 165,607 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ITW shares. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $271.00.

Illinois Tool Works Price Performance

Shares of ITW traded down $2.11 during mid-day trading on Monday, hitting $257.98. 1,013,793 shares of the company were exchanged, compared to its average volume of 986,927. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $76.18 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The company has a 50 day moving average of $258.13 and a 200-day moving average of $257.79.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

About Illinois Tool Works

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.