Bridgewater Associates LP Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Bridgewater Associates LP bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,167 shares of the industrial products company's stock, valued at approximately $1,310,000.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in Illinois Tool Works by 1.7% during the 3rd quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after acquiring an additional 12,988 shares during the period. Tudor Financial Inc. acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $759,000. World Investment Advisors LLC lifted its position in Illinois Tool Works by 6.7% during the 3rd quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company's stock worth $4,186,000 after acquiring an additional 1,000 shares during the period. Wilmington Savings Fund Society FSB lifted its position in Illinois Tool Works by 128.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company's stock worth $6,084,000 after acquiring an additional 13,062 shares during the period. Finally, Franklin Resources Inc. lifted its position in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI decreased their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Barclays cut their target price on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. UBS Group cut their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $260.09.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 in the last 90 days. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Trading Up 1.9 %

NYSE:ITW traded up $4.44 on Thursday, reaching $241.14. The stock had a trading volume of 311,613 shares, compared to its average volume of 1,139,229. The company has a market cap of $70.74 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm's fifty day moving average is $248.35 and its two-hundred day moving average is $257.36. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Monday, March 31st. 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.