Fox Run Management L.L.C. Acquires New Stake in Illinois Tool Works Inc. (NYSE:ITW)

Fox Run Management L.L.C. purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,613 shares of the industrial products company’s stock, valued at approximately $409,000.

A number of other institutional investors also recently bought and sold shares of the stock. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $31,000. Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $33,000. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last ninety days. 1.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ITW. Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Barclays set a $260.00 target price on Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their target price 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $269.10.

Illinois Tool Works Stock Down 0.3 %

Shares of ITW opened at $254.93 on Wednesday. The company has a market capitalization of $74.82 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The stock’s 50-day moving average price is $258.65 and its 200-day moving average price is $260.74. 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 (NYSE:ITW) last released its quarterly earnings data 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%. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. Illinois Tool Works’s 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.