J. Safra Sarasin Holding AG Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

J. Safra Sarasin Holding AG raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,090 shares of the industrial products company's stock after purchasing an additional 2,181 shares during the period. J. Safra Sarasin Holding AG owned 0.08% of Illinois Tool Works worth $61,384,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in shares of Illinois Tool Works by 1.7% during the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after purchasing an additional 12,988 shares during the period. Tudor Financial Inc. bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $759,000. World Investment Advisors LLC raised its position in Illinois Tool Works by 6.7% during the third quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company's stock valued at $4,186,000 after purchasing an additional 1,000 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Illinois Tool Works by 128.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company's stock worth $6,084,000 after purchasing an additional 13,062 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of 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 purchasing an additional 398,676 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 260,224 shares of the company's stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Evercore ISI cut their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Finally, UBS Group reduced their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $260.09.

Illinois Tool Works Stock Up 2.4 %

NYSE ITW traded up $5.59 during trading hours on Thursday, hitting $242.29. The company's stock had a trading volume of 957,713 shares, compared to its average volume of 999,971. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. 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's 50-day simple moving average is $248.35 and its two-hundred day simple moving average is $257.36. The company has a market capitalization of $71.08 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Illinois Tool Works's payout ratio is 51.19%.

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.