Toronto Dominion Bank Acquires 8,975 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Toronto Dominion Bank boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,387 shares of the industrial products company's stock after purchasing an additional 8,975 shares during the quarter. Toronto Dominion Bank's holdings in Illinois Tool Works were worth $33,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarity Financial LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $315,000. Milestone Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $941,000. Heck Capital Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $739,000. MOKAN Wealth Management Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $1,096,000. Finally, EP Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 42.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after acquiring an additional 1,698 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.0%

NYSE ITW traded down $0.12 during trading on Thursday, hitting $244.53. The stock had a trading volume of 831,412 shares, compared to its average volume of 1,020,916. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a 50 day simple moving average of $241.56 and a 200 day simple moving average of $255.35. The stock has a market capitalization of $71.65 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion during 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%. Illinois Tool Works's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Citigroup cut their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday. Wells Fargo & Company dropped 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 research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $253.42.

Insider Buying and Selling

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.