MML Investors Services LLC Has $15.80 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

MML Investors Services LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,322 shares of the industrial products company's stock after buying an additional 2,093 shares during the period. MML Investors Services LLC's holdings in Illinois Tool Works were worth $15,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc raised its holdings in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after buying an additional 84 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value 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. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 in the last ninety days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

ITW traded up $0.77 during trading hours on Monday, reaching $240.27. The company's stock had a trading volume of 282,987 shares, compared to its average volume of 997,980. The company's 50-day moving average is $247.58 and its 200-day moving average is $257.15. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm has a market cap of $70.49 billion, a PE ratio of 20.50, a price-to-earnings-growth 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 posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.50%. Illinois Tool Works's payout ratio is currently 51.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ITW. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased 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. Finally, Stifel Nicolaus cut their target price on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Two 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 stock presently has an average rating of "Hold" and a consensus price target 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.