Capital Research Global Investors Buys 71,934 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Capital Research Global Investors increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,132,493 shares of the industrial products company's stock after acquiring an additional 71,934 shares during the period. Capital Research Global Investors owned about 1.40% of Illinois Tool Works worth $1,047,837,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Illinois Tool Works by 1.7% in the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after buying an additional 12,988 shares during the last quarter. Tudor Financial Inc. purchased a new position in shares of Illinois Tool Works during the 3rd quarter worth $759,000. World Investment Advisors LLC grew its position in shares of 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 valued at $4,186,000 after acquiring an additional 1,000 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Illinois Tool Works by 128.6% in 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 purchasing an additional 13,062 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position 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 valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insiders Place Their Bets

In related news, 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 value of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last quarter. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $4.66 during mid-day trading on Thursday, hitting $241.36. 463,742 shares of the company's stock traded hands, compared to its average volume of 999,085. The company has a market capitalization of $70.81 billion, a P/E ratio of 20.59, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1 year low of $214.66 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. The company's 50-day moving average is $248.35 and its two-hundred day moving average is $257.36.

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 for the quarter, beating 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%. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. UBS Group decreased their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Barclays dropped their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $260.09.

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.