Xact Kapitalforvaltning AB Acquires 3,511 Shares of Illinois Tool Works Inc. (ITW)

Xact Kapitalforvaltning AB boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,224 shares of the industrial products company’s stock after acquiring an additional 3,511 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Illinois Tool Works were worth $8,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Illinois Tool Works by 8.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 45,423 shares of the industrial products company’s stock valued at $7,579,000 after purchasing an additional 3,629 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Illinois Tool Works by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,605 shares of the industrial products company’s stock valued at $11,234,000 after purchasing an additional 1,500 shares during the period. Cambria Investment Management L.P. raised its position in shares of Illinois Tool Works by 188.7% in the third quarter. Cambria Investment Management L.P. now owns 40,486 shares of the industrial products company’s stock valued at $5,990,000 after purchasing an additional 26,464 shares during the period. Atlantic Trust Group LLC raised its position in shares of Illinois Tool Works by 21.6% in the third quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock valued at $36,045,000 after purchasing an additional 43,356 shares during the period. Finally, DnB Asset Management AS raised its position in shares of Illinois Tool Works by 21.3% in the fourth quarter. DnB Asset Management AS now owns 51,917 shares of the industrial products company’s stock valued at $8,662,000 after purchasing an additional 9,100 shares during the period. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

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In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction on Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now owns 42,497 shares in the company, valued at $7,564,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $162.75 on Friday. The stock has a market cap of $57,454.82, a price-to-earnings ratio of 33.49, a PEG ratio of 2.16 and a beta of 1.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 52 week low of $129.17 and a 52 week high of $179.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. Illinois Tool Works’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. research analysts expect that Illinois Tool Works Inc. will post 7.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.92%. Illinois Tool Works’s dividend payout ratio is currently 64.20%.

A number of research firms have recently commented on ITW. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $160.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Credit Suisse Group lifted their price target on shares of Illinois Tool Works from $163.00 to $166.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Wells Fargo lifted their price target on shares of Illinois Tool Works from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, BMO Capital Markets lifted their price target on shares of Illinois Tool Works from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $177.18.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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