Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,070 shares of the industrial products company's stock after selling 1,148 shares during the period. Associated Banc Corp's holdings in Illinois Tool Works were worth $5,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. Assetmark Inc. lifted its position in shares of Illinois Tool Works by 6.4% during the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company's stock valued at $499,000 after buying an additional 114 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Illinois Tool Works by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,462 shares of the industrial products company's stock valued at $1,431,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Illinois Tool Works by 5.0% in the third quarter. CIBC Asset Management Inc now owns 54,655 shares of the industrial products company's stock worth $14,323,000 after purchasing an additional 2,619 shares during the last quarter. Empirical Finance LLC increased its position in shares of Illinois Tool Works by 2.0% during the third quarter. Empirical Finance LLC now owns 9,565 shares of the industrial products company's stock worth $2,507,000 after purchasing an additional 183 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Illinois Tool Works by 42.7% during the 3rd quarter. Empowered Funds LLC now owns 38,986 shares of the industrial products company's stock valued at $10,217,000 after purchasing an additional 11,663 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

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Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $3.05 during trading on Thursday, hitting $253.19. 842,486 shares of the stock traded hands, compared to its average volume of 932,125. The company has a fifty day moving average price of $258.24 and a two-hundred day moving average price of $260.45. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 4.56 and a beta of 1.13. 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 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%. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Insider Activity

In other Illinois Tool Works news, 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 value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last quarter. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus dropped their target price 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 decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Finally, Barclays set a $260.00 target price on Illinois Tool Works and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $269.10.

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.