Sciencast Management LP Purchases Shares of 9,475 Illinois Tool Works Inc. (NYSE:ITW)

Sciencast Management LP 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 SEC. The fund acquired 9,475 shares of the industrial products company's stock, valued at approximately $2,402,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITW. Pensionfund Sabic lifted its position in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of 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 valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank raised its position in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Illinois Tool Works by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company's stock worth $9,680,000 after buying an additional 3,903 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling

In other news, CFO Michael M. Larsen sold 41,472 shares of the business's 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 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 SEC, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. Company insiders own 1.26% of the company's stock.

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Illinois Tool Works Trading Up 0.3 %

Shares of ITW traded up $0.87 during trading hours on Wednesday, reaching $255.86. The stock had a trading volume of 890,983 shares, compared to its average volume of 931,088. The firm has a 50-day moving average of $258.65 and a 200 day moving average of $260.74. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market cap of $75.10 billion, a P/E ratio of 21.83, a P/E/G ratio of 4.56 and a beta of 1.13. 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 issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent research reports. Stifel Nicolaus dropped their target price on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised 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 lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Finally, Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Illinois Tool Works currently has an average rating of "Hold" and an average price target 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.