Xponance Inc. Increases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Xponance Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,836 shares of the industrial products company's stock after buying an additional 1,749 shares during the period. Xponance Inc.'s holdings in Illinois Tool Works were worth $12,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Generali Asset Management SPA SGR purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $9,302,000. Evoke Wealth LLC increased its stake in Illinois Tool Works by 47.1% during the fourth quarter. Evoke Wealth LLC now owns 1,639 shares of the industrial products company's stock worth $418,000 after purchasing an additional 525 shares during the period. Horizon Investments LLC increased its stake in Illinois Tool Works by 1.7% during the fourth quarter. Horizon Investments LLC now owns 4,836 shares of the industrial products company's stock worth $1,226,000 after purchasing an additional 82 shares during the period. Thrivent Financial for Lutherans increased its stake in Illinois Tool Works by 2.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 33,945 shares of the industrial products company's stock worth $9,048,000 after purchasing an additional 890 shares during the period. Finally, PDS Planning Inc increased its stake in Illinois Tool Works by 5.7% during the fourth quarter. PDS Planning Inc now owns 2,357 shares of the industrial products company's stock worth $598,000 after purchasing an additional 127 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on ITW shares. Jefferies Financial Group boosted their price target 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. Evercore ISI cut their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Two investment 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.com, the stock has an average rating of "Hold" and an average target price of $269.10.

Illinois Tool Works Stock Performance

Shares of ITW stock traded down $2.31 during trading hours on Friday, hitting $251.05. The stock had a trading volume of 1,565,940 shares, compared to its average volume of 933,271. The firm has a market capitalization of $73.68 billion, a PE ratio of 21.42, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock's 50 day moving average is $258.48 and its 200 day moving average is $260.46. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

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 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, research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction on 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 owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. 0.88% of the stock is currently owned by company insiders.

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.