Arjuna Capital Invests $1.46 Million in Illinois Tool Works Inc. (NYSE:ITW)

Arjuna Capital bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,751 shares of the industrial products company’s stock, valued at approximately $1,458,000.

Several other institutional investors have also bought and sold shares of the stock. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC boosted its holdings in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $37,000. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 3.7 %

Shares of ITW stock opened at $274.89 on Friday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company’s fifty day simple moving average is $257.54 and its two-hundred day simple moving average is $259.94. 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 stock has a market capitalization of $80.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of 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. Finally, Barclays dropped their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.