Industrial Alliance Investment Management Inc. Purchases 15,689 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Industrial Alliance Investment Management Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 3,922.3% in the third quarter, Holdings Channel.com reports. The fund owned 16,089 shares of the industrial products company’s stock after acquiring an additional 15,689 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Illinois Tool Works were worth $2,906,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ITW. Chilton Capital Management LLC purchased a new stake in Illinois Tool Works in the second quarter valued at approximately $44,000. Ausdal Financial Partners Inc. raised its stake in Illinois Tool Works by 5.4% in the third quarter. Ausdal Financial Partners Inc. now owns 1,267 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 65 shares in the last quarter. IMA Wealth Inc. purchased a new stake in Illinois Tool Works in the second quarter valued at approximately $1,381,000. Lcnb Corp raised its stake in Illinois Tool Works by 2.3% in the second quarter. Lcnb Corp now owns 2,955 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 67 shares in the last quarter. Finally, Central Bank & Trust Co. raised its stake in Illinois Tool Works by 36.2% in the third quarter. Central Bank & Trust Co. now owns 6,083 shares of the industrial products company’s stock valued at $1,099,000 after purchasing an additional 1,616 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 0.8 %

Shares of NYSE ITW opened at $230.34 on Friday. The company has a market cap of $70.27 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 3.52 and a beta of 1.10. The firm’s fifty day moving average is $233.98 and its 200 day moving average is $217.47. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $253.37. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.26). The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.90 billion. Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 9.53 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 13th. Investors of record on Friday, March 31st will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 53.58%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITW. Deutsche Bank Aktiengesellschaft raised their target price on shares of Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. Citigroup lifted their price target on shares of Illinois Tool Works from $232.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. StockNews.com started coverage on shares of Illinois Tool Works in a research note on Thursday. They set a “buy” rating on the stock. Finally, Vertical Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and decreased their price target for the stock from $240.00 to $220.00 in a research note on Tuesday, January 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $223.07.

Insider Activity at Illinois Tool Works

In related news, CEO Ernest Scott Santi sold 235,656 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total value of $58,039,716.24. Following the sale, the chief executive officer now owns 213,538 shares in the company, valued at $52,592,274.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the sale, the insider now owns 40,072 shares in the company, valued at approximately $9,868,130.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the sale, the chief executive officer now owns 213,538 shares in the company, valued at approximately $52,592,274.02. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.

Illinois Tool Works Company Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.