Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,208 shares of the industrial products company’s stock after buying an additional 332 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Illinois Tool Works were worth $2,588,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Sound Financial Strategies Group LLC grew its stake in shares of Illinois Tool Works by 14.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 3,335 shares of the industrial products company’s stock valued at $846,000 after buying an additional 417 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Illinois Tool Works by 44.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 536 shares during the last quarter. Atria Investments Inc boosted its holdings in Illinois Tool Works by 3.4% in the fourth quarter. Atria Investments Inc now owns 18,650 shares of the industrial products company’s stock valued at $4,729,000 after purchasing an additional 606 shares during the last quarter. Assetmark Inc. boosted its holdings in Illinois Tool Works by 6.4% in the fourth quarter. Assetmark Inc. now owns 2,025 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 122 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in Illinois Tool Works by 6.4% in the fourth quarter. Keybank National Association OH now owns 51,139 shares of the industrial products company’s stock valued at $12,967,000 after purchasing an additional 3,065 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity 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 directly owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Up 3.7 %

Shares of NYSE ITW opened at $274.89 on Friday. The company has a market cap of $80.68 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month 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 stock’s 50 day simple moving average is $257.54 and its 200 day simple moving average is $259.94.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) 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 10.39 EPS 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. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

A number of brokerages recently commented on ITW. Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $269.30.

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.