Clearbridge Investments LLC Has $115.94 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Clearbridge Investments LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 442,608 shares of the industrial products company's stock after selling 8,209 shares during the quarter. Clearbridge Investments LLC owned approximately 0.15% of Illinois Tool Works worth $115,937,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ITW. Norges Bank purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $818,408,000. Vanguard Group Inc. increased its position in shares of Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company's stock worth $6,035,292,000 after acquiring an additional 1,238,239 shares during the period. Alecta Tjanstepension Omsesidigt raised its stake in shares of Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company's stock valued at $294,671,000 after acquiring an additional 675,000 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company's stock valued at $82,579,000 after purchasing an additional 313,906 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Illinois Tool Works by 77.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company's stock worth $137,538,000 after purchasing an additional 260,679 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ITW shares. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a "hold" rating in a research report on Wednesday, April 17th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an "underweight" rating on the stock in a report on Wednesday, May 1st. StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Wednesday, May 1st. Citigroup lifted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Finally, Barclays dropped their price objective on Illinois Tool Works from $230.00 to $229.00 and set an "underweight" rating on the stock in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $257.78.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded down $1.82 on Tuesday, hitting $248.77. The stock had a trading volume of 901,213 shares, compared to its average volume of 1,199,937. The stock has a market cap of $74.23 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 3.71 and a beta of 1.14. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company's 50 day moving average price is $255.90 and its 200 day moving average price is $254.03.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.24 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works's payout ratio is 55.23%.

Insider Activity

In related news, CFO Michael M. Larsen sold 37,167 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company's stock.

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.