Vinva Investment Management Ltd Acquires 1,410 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Vinva Investment Management Ltd boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,842 shares of the industrial products company’s stock after purchasing an additional 1,410 shares during the quarter. Vinva Investment Management Ltd’s holdings in Illinois Tool Works were worth $5,056,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the fourth quarter worth $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter worth $33,000. Hager Investment Management Services LLC bought a new position in Illinois Tool Works in the fourth quarter worth $37,000. Finally, Asset Planning Inc bought a new position in Illinois Tool Works in the fourth quarter worth $40,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.7 %

Illinois Tool Works stock opened at $256.46 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market capitalization of $75.27 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business’s fifty day moving average is $258.24 and its 200 day moving average is $260.45.

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, 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, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s payout ratio is 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut their target price on 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. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Finally, Barclays set a $260.00 target price on Illinois Tool Works and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $269.10.

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.