Bank Julius Baer & Co. Ltd Zurich Increases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,409 shares of the industrial products company’s stock after purchasing an additional 2,151 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Illinois Tool Works were worth $16,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $203,949,000. Proficio Capital Partners LLC increased its holdings in Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after buying an additional 437,397 shares during the period. Franklin Resources Inc. increased its holdings in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares during the period. National Bank of Canada FI increased its holdings in Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 3.7 %

Shares of ITW stock opened at $274.89 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock has a market cap of $80.68 billion, a P/E ratio of 23.45, a P/E/G ratio of 4.56 and a beta of 1.13. The business has a fifty day simple moving average of $257.54 and a 200-day simple moving average of $260.05. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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, 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, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.18%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Evercore ISI dropped their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Citigroup dropped their price target on shares of 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. Finally, Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Two investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $269.30.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’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 transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

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.