Toroso Investments LLC Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

Toroso Investments LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,519 shares of the industrial products company’s stock after buying an additional 1,079 shares during the quarter. Toroso Investments LLC’s holdings in Illinois Tool Works were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $26,000. Standard Family Office LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at $39,000. Old North State Trust LLC purchased a new position in Illinois Tool Works in the third quarter valued at $42,000. JFS Wealth Advisors LLC grew its stake in Illinois Tool Works by 51.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 80 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Credit Suisse Group lifted their price objective on Illinois Tool Works from $259.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. StockNews.com started coverage on shares of Illinois Tool Works in a report on Thursday. They set a “buy” rating for the company. Vertical Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and reduced their price objective for the company from $240.00 to $220.00 in a report on Tuesday, January 3rd. Barclays boosted their target price on shares of Illinois Tool Works from $172.00 to $184.00 and gave the stock an “underweight” rating in a research note on Thursday, January 5th. Finally, Wells Fargo & Company raised their price target on Illinois Tool Works from $210.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, January 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $223.07.

Insider Transactions at Illinois Tool Works

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

Illinois Tool Works Trading Down 0.2 %

NYSE:ITW opened at $229.81 on Friday. 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 Inc. has a 52-week low of $173.52 and a 52-week high of $253.37. The stock’s 50 day moving average price is $234.04 and its 200 day moving average price is $217.85. The company has a market capitalization of $70.11 billion, a PE ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.26). Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the business posted $1.95 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Illinois Tool Works Inc. will post 9.61 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be paid a dividend of $1.31 per share. The ex-dividend date is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is 53.58%.

About Illinois Tool Works

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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.