Moment Partners LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Moment Partners 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,140 shares of the industrial products company's stock, valued at approximately $796,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth about $31,000. Atlantic Private Wealth LLC acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $33,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value 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 represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

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Illinois Tool Works Trading Up 0.1 %

Illinois Tool Works stock traded up $0.30 during mid-day trading on Monday, hitting $245.26. The stock had a trading volume of 322,286 shares, compared to its average volume of 1,063,122. The stock has a market capitalization of $71.95 billion, a PE ratio of 20.94, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 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. The stock has a 50-day simple moving average of $258.40 and a two-hundred day simple moving average of $260.83.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.45%. Illinois Tool Works's payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ITW shares. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of 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. Citigroup dropped their price objective on shares of 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, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus target price of $268.30.

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.