Aviva PLC Purchases 11,060 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Aviva PLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,803 shares of the industrial products company’s stock after buying an additional 11,060 shares during the quarter. Aviva PLC’s holdings in Illinois Tool Works were worth $45,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. Baron Wealth Management LLC lifted its holdings in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 39 shares during the period. Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC grew its position in Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the period. Valmark Advisers Inc. increased its holdings in Illinois Tool Works by 0.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock worth $2,343,000 after buying an additional 47 shares during the last quarter. Finally, Lyell Wealth Management LP raised its position in Illinois Tool Works by 4.9% in the fourth quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised 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. Citigroup decreased their price objective 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. Finally, Wells Fargo & Company dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $268.30.

Illinois Tool Works Price Performance

ITW stock opened at $225.25 on Friday. The firm has a 50 day moving average of $256.77 and a 200-day moving average of $260.44. 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 firm has a market capitalization of $66.08 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $224.94 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared 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 is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.66%. Illinois Tool Works’s payout ratio is currently 51.19%.

Insider Activity

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the 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 completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.