QRG Capital Management Inc. Has $5.16 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

QRG Capital Management Inc. increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,355 shares of the industrial products company's stock after purchasing an additional 4,637 shares during the quarter. QRG Capital Management Inc.'s holdings in Illinois Tool Works were worth $5,161,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ITW. Assenagon Asset Management S.A. raised its holdings in Illinois Tool Works by 12.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company's stock worth $2,446,000 after acquiring an additional 1,000 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $203,000. SteelPeak Wealth LLC boosted its stake in Illinois Tool Works by 4.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,057 shares of the industrial products company's stock valued at $279,000 after purchasing an additional 48 shares during the period. Financial Advocates Investment Management grew its holdings in Illinois Tool Works by 4.9% in the 3rd quarter. Financial Advocates Investment Management now owns 4,051 shares of the industrial products company's stock valued at $1,062,000 after buying an additional 190 shares during the last quarter. Finally, Goldstone Financial Group LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth approximately $375,000. Institutional investors own 79.77% of the company's stock.

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Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $5.36 during mid-day trading on Tuesday, hitting $256.88. 831,027 shares of the stock were exchanged, compared to its average volume of 987,165. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock's fifty day simple moving average is $257.09 and its two-hundred day simple moving average is $259.57. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $75.39 billion, a P/E ratio of 21.92, a PEG ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 2.34%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares of the company's stock, valued at $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 is available through this link. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented 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 for the company in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Citigroup dropped their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $269.30.

Illinois Tool Works Company 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.