Fox Run Management L.L.C. Makes New $409,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Fox Run Management L.L.C. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,613 shares of the industrial products company's stock, valued at approximately $409,000.

Other institutional investors have also made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% during the 3rd 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. Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company's 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. 1.26% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITW. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Barclays reduced their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company lowered 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 report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $268.30.

Illinois Tool Works Trading Down 2.2 %

NYSE ITW traded down $5.62 on Friday, hitting $246.34. The company's stock had a trading volume of 939,536 shares, compared to its average volume of 977,693. The firm has a market cap of $72.30 billion, a PE ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. The company's 50-day moving average is $258.40 and its 200 day moving average is $260.73. 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 Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. As a group, analysts predict 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. Investors of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's payout ratio is presently 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.