Tower Research Capital LLC TRC Has $3.54 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Tower Research Capital LLC TRC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 89.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,957 shares of the industrial products company's stock after purchasing an additional 6,589 shares during the period. Tower Research Capital LLC TRC's holdings in Illinois Tool Works were worth $3,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ITW. Vanguard Group Inc. boosted its position in Illinois Tool Works by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock worth $6,675,473,000 after purchasing an additional 94,601 shares during the period. Geode Capital Management LLC raised its stake in shares of Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after acquiring an additional 99,753 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Illinois Tool Works by 1.8% during the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after purchasing an additional 71,934 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after purchasing an additional 95,925 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $806,291,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $11,249,280.00. Following the sale, the chief financial officer now 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 sold a total of 159,925 shares of company stock worth $42,973,845 over the last quarter. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Down 1.1 %

Illinois Tool Works stock traded down $2.65 during mid-day trading on Friday, reaching $239.42. The company's stock had a trading volume of 1,285,772 shares, compared to its average volume of 1,000,750. The company has a market capitalization of $70.24 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The business's 50 day simple moving average is $247.58 and its 200 day simple moving average is $257.15. 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 released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Citigroup cut their price objective 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. Evercore ISI cut their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. UBS Group cut their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $260.09.

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.