Quadrant Capital Group LLC Has $1.48 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Quadrant Capital Group LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,850 shares of the industrial products company’s stock after selling 122 shares during the quarter. Quadrant Capital Group LLC’s holdings in Illinois Tool Works were worth $1,483,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ITW. Vanguard Group Inc. increased its holdings in Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock worth $6,675,473,000 after purchasing an additional 94,601 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock worth $1,620,491,000 after buying an additional 99,753 shares during the period. Fisher Asset Management LLC raised its position in Illinois Tool Works by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock valued at $873,071,000 after buying an additional 95,925 shares during the last quarter. Norges Bank bought a new stake in Illinois Tool Works in the 4th quarter valued at approximately $806,291,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Illinois Tool Works by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after acquiring an additional 32,607 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction 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 owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last 90 days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $225.25 on Monday. The firm’s fifty day moving average price is $256.77 and its two-hundred day moving average price is $260.49. 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 company has a market cap of $66.08 billion, a P/E ratio of 19.22, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $212.88 and a one year 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 expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note 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. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $268.30.

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.