Quintet Private Bank Europe S.A. Buys Shares of 160 Illinois Tool Works Inc. (NYSE:ITW)

Quintet Private Bank Europe S.A. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, Holdings Channel.com reports. The fund bought 160 shares of the industrial products company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 36,632.9% during the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after buying an additional 437,397 shares in the last quarter. Franklin Resources Inc. raised its holdings in Illinois Tool Works by 41.0% in the third 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 raised its holdings in Illinois Tool Works by 318.9% in 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 acquiring an additional 308,935 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Illinois Tool Works by 787.3% during the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after purchasing an additional 165,607 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $261.96 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market capitalization of $76.89 billion, a PE ratio of 22.35, a PEG ratio of 4.56 and a beta of 1.11. The business’s 50 day moving average is $257.09 and its 200-day moving average is $259.57. 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 announced its quarterly 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%. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’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 transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents 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 available at the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ITW shares. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays lowered their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $269.30.

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.