Los Angeles Capital Management LLC Acquires 519 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Los Angeles Capital Management LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,262 shares of the industrial products company’s stock after buying an additional 519 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Illinois Tool Works were worth $6,913,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Illinois Tool Works by 787.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after buying an additional 165,607 shares in the last quarter. Finally, State Street Corp boosted its position in Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after buying an additional 149,272 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Down 1.2 %

Shares of NYSE ITW opened at $261.30 on Thursday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. 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. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company’s fifty day moving average is $256.84 and its 200-day moving average is $258.93.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITW. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $269.30.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the 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 transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works Company 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.