Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by DnB Asset Management AS

DnB Asset Management AS grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,426 shares of the industrial products company's stock after buying an additional 1,364 shares during the quarter. DnB Asset Management AS owned 0.05% of Illinois Tool Works worth $39,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC grew its position in 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 buying an additional 106 shares during the period. Millstone Evans Group LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the company's 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 completion of the transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of 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 cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. Finally, Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $268.30.

Illinois Tool Works Trading Up 0.4 %

Shares of ITW traded up $0.96 during mid-day trading on Tuesday, reaching $248.97. The company had a trading volume of 301,940 shares, compared to its average volume of 977,435. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a fifty day simple moving average of $258.24 and a 200-day simple moving average of $260.83. The stock has a market cap of $73.04 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. On average, sell-side 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 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

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.