Janus Henderson Group PLC Has $9.17 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Janus Henderson Group PLC trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,142 shares of the industrial products company's stock after selling 1,185 shares during the quarter. Janus Henderson Group PLC's holdings in Illinois Tool Works were worth $9,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ITW. Jefferies Financial Group Inc. raised its position in Illinois Tool Works by 144.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 30,638 shares of the industrial products company's stock worth $7,769,000 after acquiring an additional 18,122 shares in the last quarter. Guardian Wealth Advisors LLC NC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at $203,000. Geller Advisors LLC lifted its position in shares of Illinois Tool Works by 0.5% during the 4th quarter. Geller Advisors LLC now owns 16,504 shares of the industrial products company's stock valued at $4,210,000 after acquiring an additional 75 shares during the last quarter. Gen Wealth Partners Inc boosted its stake in shares of Illinois Tool Works by 2.7% during the 4th quarter. Gen Wealth Partners Inc now owns 3,174 shares of the industrial products company's stock worth $805,000 after acquiring an additional 83 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Illinois Tool Works by 24.5% in the 4th quarter. Gotham Asset Management LLC now owns 75,774 shares of the industrial products company's stock worth $19,213,000 after acquiring an additional 14,934 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. dropped 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. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $253.42.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 1.1%

Illinois Tool Works stock traded down $2.68 during trading hours on Friday, hitting $242.03. The company had a trading volume of 752,546 shares, compared to its average volume of 1,017,625. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $70.91 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The firm's fifty day moving average is $241.07 and its 200-day moving average is $255.05.

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 for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $2.44 earnings per share. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, research analysts forecast 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio is currently 52.77%.

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.