Legato Capital Management LLC Has $1.46 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Legato Capital Management LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,773 shares of the industrial products company's stock after selling 2,922 shares during the quarter. Legato Capital Management LLC's holdings in Illinois Tool Works were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Illinois Tool Works by 1.2% in the third 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 in the last quarter. Geode Capital Management LLC lifted its position in 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 worth $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its position in Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock worth $877,234,000 after buying an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Illinois Tool Works by 1.8% during 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 worth $484,685,000 after buying an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Illinois Tool Works by 1.0% during the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company's stock worth $460,533,000 after buying an additional 17,139 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.8 %

Shares of NYSE ITW traded down $2.11 during trading on Friday, reaching $257.98. The stock had a trading volume of 1,013,793 shares, compared to its average volume of 986,927. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The business's 50-day moving average price is $258.13 and its 200-day moving average price is $257.71. The company has a market cap of $76.18 billion, a P/E ratio of 22.01, a PEG ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 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, equities research analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ITW shares. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Evercore ISI cut Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $271.00.

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.