Lifeworks Advisors LLC Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Lifeworks Advisors LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,275 shares of the industrial products company’s stock after purchasing an additional 1,781 shares during the period. Lifeworks Advisors LLC’s holdings in Illinois Tool Works were worth $3,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arjuna Capital purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $1,458,000. PNC Financial Services Group Inc. boosted its stake in Illinois Tool Works by 1.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,262,652 shares of the industrial products company’s stock valued at $320,158,000 after acquiring an additional 15,586 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Illinois Tool Works by 3.8% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 58,409 shares of the industrial products company’s stock worth $16,132,000 after purchasing an additional 2,151 shares during the last quarter. RKL Wealth Management LLC increased its position in shares of Illinois Tool Works by 0.7% during the fourth quarter. RKL Wealth Management LLC now owns 7,288 shares of the industrial products company’s stock worth $1,848,000 after purchasing an additional 51 shares in the last quarter. Finally, AMG National Trust Bank lifted its holdings in shares of Illinois Tool Works by 1.7% during the 4th quarter. AMG National Trust Bank now owns 8,159 shares of the industrial products company’s stock valued at $2,069,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 3.7 %

NYSE ITW 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 has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market capitalization of $80.68 billion, a PE ratio of 23.45, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a fifty day moving average of $257.54 and a 200 day moving average of $259.94.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ITW shares. Citigroup dropped their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Two 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 stock. According to MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average 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.