150,885 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 150,885 shares of the industrial products company's stock, valued at approximately $38,451,000. KLP Kapitalforvaltning AS owned 0.05% of Illinois Tool Works as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $31,000. Atlantic Private Wealth LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $33,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $0.70 during trading hours on Tuesday, hitting $254.94. The company had a trading volume of 217,904 shares, compared to its average volume of 932,129. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. 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 firm's fifty day moving average is $258.60 and its 200 day moving average is $260.66. The firm has a market capitalization of $74.82 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The company 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. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works's dividend payout ratio is 51.19%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ITW shares. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group increased 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 note on Friday, December 6th. Two equities research 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, Illinois Tool Works currently has an average rating of "Hold" and an average price target of $269.10.

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.