OFI Invest Asset Management Takes $40,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

OFI Invest Asset Management acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 162 shares of the industrial products company’s stock, valued at approximately $40,000.

Several other institutional investors have also modified their holdings of the company. Baron Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after buying an additional 39 shares during the period. Sigma Planning Corp lifted its holdings in shares of Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the period. TrinityPoint Wealth LLC lifted its holdings in shares of Illinois Tool Works by 1.0% during the third quarter. TrinityPoint Wealth LLC now owns 4,208 shares of the industrial products company’s stock valued at $1,103,000 after purchasing an additional 43 shares during the last quarter. Finally, Cypress Capital Group boosted its position in shares of Illinois Tool Works by 1.2% in the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company’s stock valued at $962,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 2.6 %

Shares of NYSE ITW opened at $267.47 on Tuesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market capitalization of $78.50 billion, a PE ratio of 22.82, a PEG ratio of 4.56 and a beta of 1.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The business has a 50-day moving average price of $257.80 and a two-hundred day moving average price of $260.30.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 return on equity of 95.39% and a net margin of 21.94%. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the firm’s 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 completion of the sale, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $269.10.

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.