Axa S.A. Has $64.81 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

AXA S.A. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,605 shares of the industrial products company's stock after buying an additional 1,071 shares during the quarter. AXA S.A. owned 0.09% of Illinois Tool Works worth $64,811,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Illinois Tool Works in the fourth quarter worth about $806,291,000. Raymond James Financial Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $203,949,000. Cerity Partners LLC raised its holdings in shares of Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock worth $229,269,000 after buying an additional 655,341 shares in the last quarter. Northern Trust Corp lifted its position in shares of Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after buying an additional 508,188 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake 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 valued at $111,209,000 after buying an additional 437,397 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company's stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last quarter. Company insiders own 0.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ITW shares. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday. UBS Group cut their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Citigroup decreased their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Barclays cut their price objective on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $256.73.

Illinois Tool Works Trading Down 0.5 %

Shares of NYSE:ITW traded down $1.24 during trading on Monday, hitting $241.09. 942,730 shares of the company's stock were exchanged, compared to its average volume of 1,008,152. The firm has a 50-day moving average price of $244.86 and a two-hundred day moving average price of $256.30. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The firm has a market cap of $70.73 billion, a P/E ratio of 20.57, a PEG ratio of 4.56 and a beta of 1.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm's revenue was down 3.4% on a year-over-year basis. During the same period last year, the company earned $2.44 EPS. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.49%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

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.