NewEdge Advisors LLC Acquires 5,140 Shares of Illinois Tool Works Inc. (NYSE:ITW)

NewEdge Advisors LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,254 shares of the industrial products company's stock after acquiring an additional 5,140 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Illinois Tool Works worth $47,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Baron Wealth Management LLC lifted its holdings in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after purchasing an additional 39 shares in the last quarter. F M Investments LLC grew its stake in Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 42 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after buying an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after acquiring an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in shares of Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock worth $2,343,000 after buying an additional 47 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ITW shares. Citigroup decreased their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays lowered their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Evercore ISI cut their price target 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. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $260.09.

Illinois Tool Works Stock Performance

Shares of ITW stock traded down $4.46 during trading hours on Monday, hitting $226.38. The company's stock had a trading volume of 236,313 shares, compared to its average volume of 996,506. The company has a 50 day moving average of $249.80 and a 200 day moving average of $257.86. The stock has a market cap of $66.41 billion, a PE ratio of 19.32, 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 company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly 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 return on equity of 95.39% and a net margin of 21.94%. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's payout ratio is currently 51.19%.

Insider Transactions at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company's stock.

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.