TrimTabs Asset Management LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,756 shares of the industrial products company’s stock, valued at approximately $1,765,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Canandaigua National Corp lifted its stake in Illinois Tool Works by 1.3% during the first quarter. Canandaigua National Corp now owns 6,668 shares of the industrial products company’s stock worth $1,477,000 after purchasing an additional 88 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Illinois Tool Works by 1.0% during the first quarter. Confluence Investment Management LLC now owns 329,231 shares of the industrial products company’s stock worth $72,931,000 after purchasing an additional 3,323 shares during the last quarter. Alpha DNA Investment Management LLC bought a new position in Illinois Tool Works during the fourth quarter worth $1,043,000. Mach 1 Financial Group Inc. bought a new position in Illinois Tool Works during the fourth quarter worth $1,236,000. Finally, Curi Capital acquired a new stake in Illinois Tool Works in the fourth quarter worth $411,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.
NYSE ITW traded down $1.42 during trading on Thursday, reaching $218.53. 22,942 shares of the company’s stock were exchanged, compared to its average volume of 1,133,616. Illinois Tool Works Inc. has a fifty-two week low of $148.27 and a fifty-two week high of $228.77. The firm has a market capitalization of $69.16 billion, a PE ratio of 33.33, a P/E/G ratio of 3.88 and a beta of 1.07. The company has a current ratio of 2.37, a quick ratio of 1.92 and a debt-to-equity ratio of 2.81. The company’s fifty day simple moving average is $213.43 and its 200-day simple moving average is $205.68.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, March 30th. Illinois Tool Works’s payout ratio is 58.84%.
ITW has been the topic of several analyst reports. Morgan Stanley increased their target price on Illinois Tool Works from $176.00 to $180.00 and gave the stock an “underweight” rating in a research report on Monday, February 8th. UBS Group raised Illinois Tool Works from a “neutral” rating to a “buy” rating and increased their target price for the stock from $211.00 to $232.00 in a research report on Monday, January 4th. Robert W. Baird reaffirmed a “hold” rating on shares of Illinois Tool Works in a research report on Tuesday, February 23rd. The Goldman Sachs Group raised Illinois Tool Works from a “sell” rating to a “neutral” rating and increased their target price for the stock from $195.00 to $217.00 in a research report on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $96.00 to $206.00 and gave the stock a “hold” rating in a research report on Monday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $204.41.
In related news, CEO Ernest Scott Santi sold 1,231 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total value of $252,810.47. Following the transaction, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. 0.79% of the stock is currently owned by company insiders.
Illinois Tool Works Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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