Los Angeles Capital Management LLC Has $6.91 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Los Angeles Capital Management LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,262 shares of the industrial products company’s stock after buying an additional 519 shares during the period. Los Angeles Capital Management LLC’s holdings in Illinois Tool Works were worth $6,913,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $37,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Down 1.2 %

Shares of ITW stock opened at $261.30 on Thursday. The firm has a fifty day moving average of $256.84 and a 200-day moving average of $258.93. The stock has a market cap of $76.69 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

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 (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analysts Set New Price Targets

A number of research firms have recently commented on ITW. Evercore ISI dropped their price objective 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. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Citigroup reduced their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $269.30.

About Illinois Tool Works

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.