Quantessence Capital LLC Takes $1.17 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Quantessence Capital LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,602 shares of the industrial products company's stock, valued at approximately $1,167,000.

Several other institutional investors have also added to or reduced their stakes in ITW. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $28,000. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after purchasing an additional 84 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Citigroup decreased 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. Barclays cut their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus target price of $260.09.

Illinois Tool Works Stock Down 1.1 %

Shares of NYSE ITW traded down $2.65 on Friday, reaching $239.42. 1,285,772 shares of the company's stock traded hands, compared to its average volume of 1,000,535. The business's 50 day simple moving average is $247.58 and its two-hundred day simple moving average is $257.16. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a market cap of $70.24 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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, equities research 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company'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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % 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 valued at $42,973,845. 0.88% of the stock is owned by insiders.

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.