Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,355 shares of the industrial products company’s stock after acquiring an additional 4,637 shares during the period. QRG Capital Management Inc.’s holdings in Illinois Tool Works were worth $5,161,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $37,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.1 %

Shares of NYSE ITW opened at $263.99 on Friday. 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 stock has a market capitalization of $77.48 billion, a PE ratio of 22.52, a PEG ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a fifty day simple moving average of $257.00 and a 200-day simple moving average of $259.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ITW shares. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup dropped their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works 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.