LBP AM SA acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 16,270 shares of the industrial products company's stock, valued at approximately $4,125,000.
Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its position in 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 worth $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted its position in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. Fisher Asset Management LLC lifted its position in Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after acquiring an additional 95,925 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Illinois Tool Works by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company's stock worth $638,205,000 after purchasing an additional 32,607 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Illinois Tool Works by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company's stock worth $634,797,000 after purchasing an additional 46,287 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.
Insider Transactions at Illinois Tool Works
In related 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 value of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the stock an "equal weight" rating in a report on Monday, March 10th. Evercore ISI dropped their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of 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 lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group upped 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus price target of $269.10.
Check Out Our Latest Report on Illinois Tool Works
Illinois Tool Works Price Performance
NYSE:ITW traded down $3.05 on Thursday, reaching $253.19. The stock had a trading volume of 841,664 shares, compared to its average volume of 932,125. The company has a market capitalization of $74.31 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a fifty day moving average price of $258.24 and a 200-day moving average price of $260.45.
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 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%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.
Illinois Tool Works Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. Illinois Tool Works's payout ratio is 51.19%.
About Illinois Tool Works
(
Free Report)
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.
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