Quantinno Capital Management LP Increases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Quantinno Capital Management LP increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 48.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,138 shares of the industrial products company's stock after purchasing an additional 15,120 shares during the period. Quantinno Capital Management LP's holdings in Illinois Tool Works were worth $11,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc lifted its stake 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 valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

NYSE ITW traded up $3.36 on Friday, hitting $251.33. The company had a trading volume of 1,179,486 shares, compared to its average volume of 1,022,307. The company has a market capitalization of $73.64 billion, a PE ratio of 21.44, a PEG ratio of 4.56 and a beta of 1.12. The company's fifty day moving average price is $241.76 and its 200-day moving average price is $255.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Insider Transactions at Illinois Tool Works

In other news, 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 transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company'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 sale, the director now directly owns 260,224 shares of the company's stock, valued at $68,516,979.20. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ITW shares. UBS Group decreased their price objective on shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Citigroup decreased their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday, February 19th. Finally, Truist Financial decreased their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $253.67.

Illinois Tool Works 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.