Sei Investments Co. Has $21.64 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Sei Investments Co. raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,356 shares of the industrial products company’s stock after acquiring an additional 4,003 shares during the quarter. Sei Investments Co.’s holdings in Illinois Tool Works were worth $21,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plancorp LLC increased its stake in Illinois Tool Works by 37.9% in the 4th quarter. Plancorp LLC now owns 1,098 shares of the industrial products company’s stock valued at $278,000 after buying an additional 302 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Illinois Tool Works by 45.4% in the 4th quarter. Mizuho Securities USA LLC now owns 25,469 shares of the industrial products company’s stock valued at $6,458,000 after acquiring an additional 7,949 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $2,402,000. Millstone Evans Group LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $31,000. Finally, TD Private Client Wealth LLC grew its stake in Illinois Tool Works by 2.1% in the fourth quarter. TD Private Client Wealth LLC now owns 5,815 shares of the industrial products company’s stock valued at $1,474,000 after purchasing an additional 120 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on 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. Deutsche Bank Aktiengesellschaft raised 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. Barclays decreased their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $268.30.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 in the last quarter. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 0.3 %

Shares of NYSE:ITW opened at $255.86 on Thursday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The business has a 50 day moving average of $258.68 and a 200-day moving average of $260.70. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market cap of $75.10 billion, a PE ratio of 21.83, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.