LM Advisors LLC Buys New Position in Illinois Tool Works Inc. (NYSE:ITW)

LM Advisors LLC 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 3,394 shares of the industrial products company's stock, valued at approximately $866,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pensionfund Sabic lifted its holdings in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock valued at $1,876,000 after purchasing an additional 2,000 shares in the last quarter. Franklin Resources Inc. increased its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $1,729,000. Czech National Bank lifted its position in shares of Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock valued at $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

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Illinois Tool Works Stock Up 0.5 %

Shares of NYSE:ITW traded up $1.16 during trading on Monday, hitting $246.12. 419,582 shares of the company's stock traded hands, compared to its average volume of 975,544. The company has a 50-day moving average price of $258.40 and a 200-day moving average price of $260.83. The company has a market cap of $72.20 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results 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%. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. 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. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. Barclays dropped their target price on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $268.30.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. Company insiders own 0.88% of the company's stock.

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.