Quantessence Capital LLC Acquires Shares of 4,602 Illinois Tool Works Inc. (NYSE:ITW)

Quantessence Capital LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,602 shares of the industrial products company's stock, valued at approximately $1,167,000.

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

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Citigroup decreased 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. UBS Group dropped their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $260.09.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $2.65 during trading hours on Friday, reaching $239.42. 1,285,772 shares of the stock traded hands, compared to its average volume of 1,000,750. The company has a market capitalization of $70.24 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company's 50-day simple moving average is $247.58 and its two-hundred day simple moving average is $257.15. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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 dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.51%. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock worth $42,973,845. Company 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.