Moment Partners LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Moment Partners LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,140 shares of the industrial products company’s stock, valued at approximately $796,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. True Wealth Design LLC boosted its position 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 purchasing an additional 106 shares during the period. Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $33,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $268.30.

Illinois Tool Works Trading Up 0.3 %

Shares of NYSE:ITW opened at $255.86 on Thursday. The company has a market cap of $75.10 billion, a PE ratio of 21.83, a P/E/G ratio of 4.56 and a beta of 1.13. The company’s 50 day moving average is $258.68 and its two-hundred day moving average is $260.70. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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 analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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 10th. Investors of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 over the last three months. Insiders own 1.26% of the company’s stock.

Illinois Tool Works 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.