Van ECK Associates Corp Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Van ECK Associates Corp boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,688 shares of the industrial products company’s stock after acquiring an additional 1,456 shares during the period. Van ECK Associates Corp’s holdings in Illinois Tool Works were worth $10,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Moneta Group Investment Advisors LLC grew its holdings in shares of Illinois Tool Works by 106,553.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after buying an additional 7,178,474 shares in the last quarter. Norges Bank purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $708,259,000. Morgan Stanley grew its holdings in shares of Illinois Tool Works by 59.2% during the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after buying an additional 1,707,780 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 12.1% during the first quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock worth $1,363,875,000 after buying an additional 607,321 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Illinois Tool Works by 4,162.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 496,656 shares of the industrial products company’s stock worth $120,911,000 after buying an additional 485,003 shares in the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.5 %

NYSE ITW opened at $255.71 on Friday. The company’s fifty day simple moving average is $256.70 and its 200-day simple moving average is $244.29. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $267.12. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a market cap of $76.94 billion, a P/E ratio of 26.25, a PEG ratio of 4.37 and a beta of 1.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.19%. Illinois Tool Works’s payout ratio is currently 57.49%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ITW shares. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Citigroup boosted their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $277.00 to $240.00 in a report on Tuesday. Finally, Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $239.33.

Get Our Latest Stock Report on ITW

Illinois Tool Works Company Profile

(Free Report)

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

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