Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Boosted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,713 shares of the industrial products company's stock after acquiring an additional 2,451 shares during the quarter. UniSuper Management Pty Ltd's holdings in Illinois Tool Works were worth $4,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC raised its stake in shares of 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 last quarter. Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ITW shares. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Evercore ISI cut their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Jefferies Financial Group raised their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $268.30.

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Illinois Tool Works Stock Performance

ITW traded up $2.86 during trading on Wednesday, hitting $251.56. 290,647 shares of the stock were exchanged, compared to its average volume of 977,659. The stock has a fifty day moving average price of $257.99 and a two-hundred day moving average price of $260.81. The firm has a market capitalization of $73.80 billion, a P/E ratio of 21.46, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. 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 issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.39%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the 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 sale, the chief executive officer now owns 55,113 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

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.