Stevens Capital Management LP Acquires New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Stevens Capital Management LP acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,477 shares of the industrial products company's stock, valued at approximately $375,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $31,000. Atlantic Private Wealth LLC bought a new position in shares of Illinois Tool Works in the 4th quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred 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 sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 1.26% of the company's stock.

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Illinois Tool Works Stock Performance

Shares of ITW traded down $5.62 during midday trading on Friday, reaching $246.34. 939,536 shares of the stock were exchanged, compared to its average volume of 977,692. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a market cap of $72.30 billion, a P/E ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. The stock's 50 day simple moving average is $258.40 and its 200 day simple moving average is $260.64. 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 released 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 net margin of 21.94% and a return on equity of 95.39%. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of analyst reports. Citigroup decreased their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Barclays lowered 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 report on Wednesday. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $268.30.

About Illinois Tool Works

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.