Integrated Wealth Concepts LLC Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

Integrated Wealth Concepts LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 10,372 shares of the industrial products company’s stock after acquiring an additional 450 shares during the period. Integrated Wealth Concepts LLC’s holdings in Illinois Tool Works were worth $2,630,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Illinois Tool Works by 1.7% in the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company’s stock worth $203,619,000 after acquiring an additional 12,988 shares during the period. Tudor Financial Inc. purchased a new stake in Illinois Tool Works during the 3rd quarter valued at approximately $759,000. World Investment Advisors LLC raised its position in shares of Illinois Tool Works by 6.7% during the third quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company’s stock valued at $4,186,000 after buying an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Illinois Tool Works by 128.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company’s stock worth $6,084,000 after buying an additional 13,062 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.1 %

Shares of ITW opened at $239.42 on Monday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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. The company’s fifty day simple moving average is $247.58 and its 200-day simple moving average is $257.15. The company has a market cap of $70.24 billion, a P/E ratio of 20.43, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect 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 was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.51%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

Several analysts have commented on ITW shares. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company dropped 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. UBS Group reduced their price objective on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Barclays lowered their target price on Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $260.09.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm’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 transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.