UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,059,119 shares of the industrial products company's stock after buying an additional 209,671 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.70% of Illinois Tool Works worth $522,110,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ITW. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $28,000. Glass Jacobson Investment Advisors llc boosted its holdings in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated 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 approximately $15,120,802.68. This represents a 46.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following 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 represents a 45.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. Citigroup lowered their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Robert W. Baird upped their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $253.42.

Illinois Tool Works Price Performance

Shares of ITW traded down $2.68 during mid-day trading on Friday, hitting $242.03. 752,546 shares of the company were exchanged, compared to its average volume of 1,017,625. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a 50 day moving average of $241.07 and a 200-day moving average of $255.05. The stock has a market cap of $70.91 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The company's revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. 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.