WBI Investments Inc. Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

WBI Investments Inc. lifted its stake in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 19.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,876 shares of the industrial products company’s stock after buying an additional 1,630 shares during the period. WBI Investments Inc.’s holdings in Illinois Tool Works were worth $2,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ITW. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at $25,000. Northwest Capital Management Inc purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at $28,000. Quarry LP grew its position in shares of Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after buying an additional 49 shares during the last quarter. Arlington Trust Co LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at $38,000. Finally, Steward Financial Group LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at $39,000. 79.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITW has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Barclays raised their price objective on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Citigroup raised their price objective on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $239.33.

Read Our Latest Research Report on ITW

Insiders Place Their Bets

In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.78% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Up 0.5 %

Shares of NYSE ITW opened at $255.75 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $267.12. The firm has a 50-day moving average price of $256.70 and a 200 day moving average price of $244.13. The stock has a market capitalization of $76.95 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 4.39 and a beta of 1.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s payout ratio is currently 57.49%.

Illinois Tool Works Profile

(Free Report)

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.

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

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