Dividend Assets Capital LLC Buys 82 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Dividend Assets Capital LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,081 shares of the industrial products company’s stock after buying an additional 82 shares during the period. Dividend Assets Capital LLC’s holdings in Illinois Tool Works were worth $1,035,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at approximately $28,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at $37,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research note on Wednesday. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $264.30 on Friday. The company has a fifty day moving average of $257.08 and a 200-day moving average of $258.29. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The stock has a market capitalization of $77.57 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 4.52 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.