Jones Financial Companies Lllp Buys 16,930 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Jones Financial Companies Lllp grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 30.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 73,256 shares of the industrial products company's stock after acquiring an additional 16,930 shares during the quarter. Jones Financial Companies Lllp's holdings in Illinois Tool Works were worth $18,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC raised its holdings in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after purchasing an additional 95,925 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Illinois Tool Works by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company's stock valued at $634,797,000 after acquiring an additional 46,287 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock valued at $484,685,000 after buying an additional 32,656 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITW. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Barclays lowered their target price on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. 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. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and a consensus target price of $269.30.

Illinois Tool Works Stock Up 0.1 %

Shares of NYSE:ITW traded up $0.38 during trading on Thursday, hitting $261.43. The company's stock had a trading volume of 560,727 shares, compared to its average volume of 1,002,091. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock's 50-day moving average price is $257.05 and its two-hundred day moving average price is $259.68. The company has a market capitalization of $76.73 billion, a PE ratio of 22.31, a PEG ratio of 4.56 and a beta of 1.13.

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, 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%. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

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.