FIL Ltd Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

FIL Ltd lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 86.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,253 shares of the industrial products company's stock after acquiring an additional 4,300 shares during the quarter. FIL Ltd's holdings in Illinois Tool Works were worth $2,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the period. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock valued at $1,620,491,000 after buying an additional 99,753 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after buying an additional 95,925 shares during the period. Norges Bank acquired a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $806,291,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Illinois Tool Works by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company's stock valued at $638,205,000 after acquiring an additional 32,607 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.4 %

NYSE:ITW traded up $0.88 on Friday, hitting $230.68. The stock had a trading volume of 889,342 shares, compared to its average volume of 1,003,209. The company has a market cap of $67.67 billion, a PE ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The business's fifty day moving average is $250.36 and its 200 day moving average is $258.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. On average, equities research 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.60%. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company dropped 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 research report on Thursday, February 6th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a research report on Monday. JPMorgan Chase & Co. dropped their price objective 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. Finally, Barclays decreased 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $260.09.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated 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 sale, the chief financial officer now 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. In the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company's stock.

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.