Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 305,762 shares of the industrial products company's stock after acquiring an additional 3,911 shares during the quarter. Clearbridge Investments LLC owned approximately 0.10% of Illinois Tool Works worth $77,529,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ITW. FMR LLC raised its stake in Illinois Tool Works by 4.1% in the third quarter. FMR LLC now owns 998,459 shares of the industrial products company's stock worth $261,666,000 after buying an additional 39,445 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Illinois Tool Works by 17.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company's stock worth $2,108,000 after acquiring an additional 1,200 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Illinois Tool Works by 9.9% during the 3rd quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company's stock worth $10,405,000 after purchasing an additional 3,581 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its position in Illinois Tool Works by 2.7% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company's stock valued at $745,000 after purchasing an additional 76 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in 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. Hedge funds and other institutional investors own 79.77% of the company's stock.

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Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction 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 sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 over the last ninety days. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $13.27 during midday trading on Thursday, hitting $239.16. The company's stock had a trading volume of 1,492,433 shares, compared to its average volume of 982,646. 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 Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm's 50 day moving average is $257.87 and its 200-day moving average is $260.75. The firm has a market cap of $70.16 billion, a P/E ratio of 20.41, a P/E/G ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

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 paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.51%. Illinois Tool Works's payout ratio is 51.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITW. Stifel Nicolaus cut their price objective on shares of 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. Wells Fargo & Company cut 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 report on Thursday, February 6th. 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 report on Wednesday, February 19th. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Barclays lowered their price target on Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $268.30.

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.