CIBC Asset Management Inc Purchases 1,948 Shares of Illinois Tool Works Inc. (NYSE:ITW)

CIBC Asset Management Inc increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,603 shares of the industrial products company's stock after acquiring an additional 1,948 shares during the period. CIBC Asset Management Inc's holdings in Illinois Tool Works were worth $14,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at approximately $28,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the 3rd quarter worth about $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.5 %

Shares of NYSE:ITW traded down $1.25 during midday trading on Friday, hitting $264.30. 918,393 shares of the company's stock were exchanged, compared to its average volume of 965,335. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market cap of $77.57 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 4.52 and a beta of 1.11. The stock has a 50 day moving average price of $257.08 and a 200-day moving average price of $258.29.

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 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Evercore ISI decreased their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday. Barclays decreased their price target on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday, December 6th. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average target price of $269.30.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.