Sei Investments Co. Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Sei Investments Co. boosted its position 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. The institutional investor owned 85,356 shares of the industrial products company's stock after purchasing an additional 4,003 shares during the quarter. Sei Investments Co.'s holdings in Illinois Tool Works were worth $21,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $28,000. True Wealth Design LLC grew its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares during the period. Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $31,000. Atlantic Private Wealth LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ITW shares. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Jefferies Financial Group raised their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Barclays dropped their target price 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. 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $268.30.

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Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last quarter. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded down $5.62 during mid-day trading on Friday, hitting $246.34. 939,536 shares of the company traded hands, compared to its average volume of 977,693. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a 50-day moving average price of $258.40 and a two-hundred day moving average price of $260.83. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's payout ratio is currently 51.19%.

Illinois Tool Works Company 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.