MML Investors Services LLC Increases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

MML Investors Services LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,322 shares of the industrial products company's stock after purchasing an additional 2,093 shares during the period. MML Investors Services LLC's holdings in Illinois Tool Works were worth $15,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ITW. Natixis lifted its stake in shares of Illinois Tool Works by 61.2% in the 4th quarter. Natixis now owns 6,866 shares of the industrial products company's stock valued at $1,741,000 after purchasing an additional 2,607 shares during the last quarter. MetLife Investment Management LLC lifted its position in Illinois Tool Works by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 76,387 shares of the industrial products company's stock valued at $19,369,000 after buying an additional 620 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Illinois Tool Works by 88.1% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 47,978 shares of the industrial products company's stock worth $12,165,000 after buying an additional 22,467 shares during the period. Capital Research Global Investors increased its position in shares of Illinois Tool Works by 1.8% during the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after acquiring an additional 71,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,710,825 shares of the industrial products company's stock valued at $433,817,000 after acquiring an additional 108,050 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were 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 directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $236.49 on Wednesday. The firm's fifty day simple moving average is $248.77 and its 200-day simple moving average is $257.50. The firm has a market capitalization of $69.38 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 (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 for the quarter, topping 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%. Equities analysts forecast 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 was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. Evercore ISI dropped 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. Wells Fargo & Company dropped their price objective on 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. Stifel Nicolaus lowered their target price on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup dropped their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus price target of $260.09.

Illinois Tool Works 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.

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