LPL Financial LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 470,178 shares of the industrial products company's stock after acquiring an additional 22,078 shares during the period. LPL Financial LLC owned about 0.16% of Illinois Tool Works worth $119,218,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Illinois Tool Works during the fourth quarter worth about $203,949,000. Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock worth $111,209,000 after acquiring an additional 437,397 shares during the period. Franklin Resources Inc. lifted its position in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. National Bank of Canada FI grew its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after purchasing an additional 308,935 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.
Insider Buying and Selling at Illinois Tool Works
In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 1.26% of the company's stock.
Illinois Tool Works Price Performance
ITW traded down $5.62 during midday trading on Friday, reaching $246.34. 939,536 shares of the company's stock were exchanged, compared to its average volume of 977,692. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market capitalization of $72.30 billion, a PE ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business's 50-day moving average price is $258.40 and its 200 day moving average price is $260.64.
Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ITW. Barclays dropped their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Jefferies Financial Group boosted their target price 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. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Finally, StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $268.30.
Check Out Our Latest Research Report on Illinois Tool Works
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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