UniSuper Management Pty Ltd Acquires 2,451 Shares of Illinois Tool Works Inc. (NYSE:ITW)

UniSuper Management Pty Ltd increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,713 shares of the industrial products company’s stock after acquiring an additional 2,451 shares during the period. UniSuper Management Pty Ltd’s holdings in Illinois Tool Works were worth $4,998,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in shares of Illinois Tool Works by 4.2% during the third quarter. D.A. Davidson & CO. now owns 15,741 shares of the industrial products company’s stock worth $4,125,000 after buying an additional 631 shares in the last quarter. FMR LLC grew its stake in shares of Illinois Tool Works by 4.1% during the 3rd quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock worth $261,666,000 after acquiring an additional 39,445 shares in the last quarter. Cadence Bank acquired a new stake in shares of Illinois Tool Works in the third quarter valued at approximately $221,000. Townsquare Capital LLC lifted its position in shares of Illinois Tool Works by 12.2% in the third quarter. Townsquare Capital LLC now owns 8,946 shares of the industrial products company’s stock worth $2,344,000 after purchasing an additional 970 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in Illinois Tool Works by 40.1% during the third quarter. CreativeOne Wealth LLC now owns 5,774 shares of the industrial products company’s stock worth $1,513,000 after purchasing an additional 1,654 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value 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. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last ninety days. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW opened at $246.34 on Friday. The company’s 50-day moving average is $258.40 and its 200-day moving average is $260.64. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $72.30 billion, a PE ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. Equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.44%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Citigroup dropped their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. 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 note on Monday, February 3rd. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $268.30.

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.