Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,392,021 shares of the industrial products company’s stock after buying an additional 99,753 shares during the period. Geode Capital Management LLC owned about 2.16% of Illinois Tool Works worth $1,620,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the 4th quarter worth $25,000. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $33,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $248.93 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market cap of $73.03 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.56 and a beta of 1.13. The stock has a 50 day moving average of $257.99 and a 200-day moving average of $260.81.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 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 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.41%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Evercore ISI lowered their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group raised their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $268.30.

About Illinois Tool Works

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.