TD Private Client Wealth LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

TD Private Client Wealth LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,815 shares of the industrial products company’s stock after acquiring an additional 120 shares during the period. TD Private Client Wealth LLC’s holdings in Illinois Tool Works were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ITW. Lee Danner & Bass Inc. purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $95,000. Ballast Advisors LLC grew its stake in Illinois Tool Works by 9.8% in the 4th quarter. Ballast Advisors LLC now owns 4,076 shares of the industrial products company’s stock worth $1,034,000 after buying an additional 364 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Illinois Tool Works by 1.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 13,401 shares of the industrial products company’s stock worth $3,398,000 after buying an additional 210 shares in the last quarter. Douglass Winthrop Advisors LLC grew its stake in Illinois Tool Works by 10.0% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 3,949 shares of the industrial products company’s stock worth $1,001,000 after buying an additional 359 shares in the last quarter. Finally, HUB Investment Partners LLC grew its stake in Illinois Tool Works by 7.6% in the 4th quarter. HUB Investment Partners LLC now owns 2,414 shares of the industrial products company’s stock worth $612,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective 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. Finally, Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Trading Down 0.9 %

NYSE:ITW opened at $251.05 on Friday. The company has a fifty day moving average of $258.48 and a 200 day moving average of $260.46. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $73.68 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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 issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

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.