Prestige Wealth Management Group LLC Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Prestige Wealth Management Group LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the industrial products company’s stock after buying an additional 97 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Illinois Tool Works were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Illinois Tool Works during the 4th quarter worth $203,949,000. Proficio Capital Partners LLC boosted its stake in shares of 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 worth $111,209,000 after buying an additional 437,397 shares during the period. Franklin Resources Inc. grew its holdings 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 buying an additional 398,676 shares during the last quarter. National Bank of Canada FI increased its position in Illinois Tool Works by 318.9% in the 3rd 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 during the period. Finally, Geode Capital Management LLC raised its stake in Illinois Tool Works by 2.7% during the 3rd 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 during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 1.8 %

Shares of Illinois Tool Works stock opened at $255.86 on Tuesday. The company has a 50-day moving average of $258.60 and a two-hundred day moving average of $260.66. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-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 stock has a market cap of $75.09 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ITW shares. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered 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 report on Thursday, February 6th. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $269.10.

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.