Waterloo Capital L.P. Acquires Shares of 1,417 Illinois Tool Works Inc. (NYSE:ITW)

Waterloo Capital L.P. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,417 shares of the industrial products company’s stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works during the fourth quarter worth $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth about $28,000. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $31,000. Atlantic Private Wealth LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $33,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.8 %

Shares of NYSE ITW opened at $221.56 on Tuesday. The company’s 50 day simple moving average is $255.91 and its 200 day simple moving average is $260.23. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a fifty-two week low of $215.46 and a fifty-two week high of $279.13. The firm has a market capitalization of $65.00 billion, a P/E ratio of 18.90, a P/E/G ratio of 4.56 and a beta of 1.12.

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 for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.71%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Barclays cut their price objective on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI reduced their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $265.18.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last ninety days. Company insiders own 0.88% 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.