Tower Research Capital LLC TRC Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Tower Research Capital LLC TRC raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 89.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,957 shares of the industrial products company's stock after buying an additional 6,589 shares during the quarter. Tower Research Capital LLC TRC's holdings in Illinois Tool Works were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ITW. Pensionfund Sabic lifted its position in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after acquiring an additional 2,000 shares during the period. Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after buying an additional 398,676 shares during the last quarter. Clark & Stuart Inc purchased a new position in Illinois Tool Works in the 4th quarter valued at $1,729,000. Czech National Bank raised its position in Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after buying an additional 3,227 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Illinois Tool Works by 31.6% in the fourth quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company's stock valued at $3,976,000 after acquiring an additional 3,765 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last quarter. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ITW shares. UBS Group lowered their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. 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 report on Monday, February 3rd. Wells Fargo & Company reduced their target price 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. Citigroup lowered their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average target price of $260.09.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $5.59 on Thursday, hitting $242.29. The company had a trading volume of 957,713 shares, compared to its average volume of 999,971. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $71.08 billion, a PE ratio of 20.67, a PEG 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 has a 50 day moving average of $248.03 and a 200 day moving average of $257.27.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 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.