Plancorp LLC Buys 302 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Plancorp LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 37.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098 shares of the industrial products company’s stock after buying an additional 302 shares during the quarter. Plancorp LLC’s holdings in Illinois Tool Works were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI increased its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,667 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 149 shares in the last quarter. LPL Financial LLC increased its holdings in Illinois Tool Works by 6.8% during the 3rd quarter. LPL Financial LLC now owns 448,100 shares of the industrial products company’s stock valued at $117,434,000 after purchasing an additional 28,518 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Illinois Tool Works by 25.3% during the 3rd quarter. Pacer Advisors Inc. now owns 44,247 shares of the industrial products company’s stock valued at $11,596,000 after purchasing an additional 8,922 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Illinois Tool Works during the 3rd quarter valued at $723,000. Finally, Stonebrook Private Inc. increased its holdings in Illinois Tool Works by 0.3% during the 3rd quarter. Stonebrook Private Inc. now owns 18,556 shares of the industrial products company’s stock valued at $4,863,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ITW shares. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays set a $260.00 target price on Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday, March 10th. Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $269.10.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, 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 have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 0.9 %

Shares of Illinois Tool Works stock opened at $251.05 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The business has a fifty day simple moving average of $258.48 and a 200 day simple moving average of $260.46. The stock has a market cap of $73.68 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.39%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

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.