Illinois Tool Works Inc. (NYSE:ITW) Position Boosted by Man Group plc

Man Group plc grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 89.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,254 shares of the industrial products company’s stock after purchasing an additional 106,149 shares during the period. Man Group plc’s holdings in Illinois Tool Works were worth $40,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ITW. Independent Family Office LLC bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $228,000. Redpoint Investment Management Pty Ltd lifted its stake in Illinois Tool Works by 19.9% in the third quarter. Redpoint Investment Management Pty Ltd now owns 18,308 shares of the industrial products company’s stock valued at $2,865,000 after acquiring an additional 3,038 shares during the last quarter. Security National Bank of SO Dak grew its position in Illinois Tool Works by 1.6% in the third quarter. Security National Bank of SO Dak now owns 7,546 shares of the industrial products company’s stock worth $1,181,000 after acquiring an additional 120 shares in the last quarter. DNB Asset Management AS grew its position in Illinois Tool Works by 10.3% in the fourth quarter. DNB Asset Management AS now owns 95,354 shares of the industrial products company’s stock worth $17,128,000 after acquiring an additional 8,866 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Illinois Tool Works by 1.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 31,524 shares of the industrial products company’s stock worth $5,663,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

NYSE ITW opened at $143.53 on Thursday. Illinois Tool Works Inc. has a 1 year low of $115.94 and a 1 year high of $190.85. The company has a fifty day simple moving average of $168.70 and a 200 day simple moving average of $169.22. The company has a current ratio of 2.90, a quick ratio of 2.36 and a debt-to-equity ratio of 2.56. The company has a market cap of $43.91 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.40 and a beta of 1.16.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, January 31st. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.47 billion. Illinois Tool Works had a net margin of 17.87% and a return on equity of 81.83%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 7.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Monday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

A number of research analysts have recently weighed in on the stock. Wells Fargo & Co cut their price target on shares of Illinois Tool Works from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $165.00 price objective on shares of Illinois Tool Works in a report on Tuesday, February 4th. UBS Group increased their target price on shares of Illinois Tool Works from $168.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Morgan Stanley upgraded Illinois Tool Works from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $154.00 to $132.00 in a report on Monday. Finally, Cfra boosted their price target on Illinois Tool Works from $146.00 to $157.00 and gave the stock a “sell” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $157.71.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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