FormulaFolio Investments LLC Acquires 915 Shares of Illinois Tool Works Inc. (NYSE:ITW)

FormulaFolio Investments LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 42.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,083 shares of the industrial products company’s stock after purchasing an additional 915 shares during the period. FormulaFolio Investments LLC’s holdings in Illinois Tool Works were worth $628,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ITW. Norges Bank bought a new position in Illinois Tool Works during the fourth quarter worth about $711,314,000. AQR Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 47.5% during the third quarter. AQR Capital Management LLC now owns 811,917 shares of the industrial products company’s stock worth $156,870,000 after acquiring an additional 261,534 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Illinois Tool Works by 464.1% during the fourth quarter. Renaissance Technologies LLC now owns 271,900 shares of the industrial products company’s stock worth $55,435,000 after acquiring an additional 223,700 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Illinois Tool Works by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,578,570 shares of the industrial products company’s stock worth $1,545,120,000 after acquiring an additional 214,462 shares during the period. Finally, Mechanics Bank Trust Department boosted its holdings in shares of Illinois Tool Works by 5,877.0% during the fourth quarter. Mechanics Bank Trust Department now owns 217,322 shares of the industrial products company’s stock worth $777,000 after acquiring an additional 213,686 shares during the period. Institutional investors and hedge funds own 77.44% of the company’s stock.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 1,231 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the sale, the chief executive officer now owns 295,172 shares of the company’s stock, valued at $60,619,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $203.00, for a total transaction of $1,468,096.00. Insiders own 0.79% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. UBS Group upgraded Illinois Tool Works from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $211.00 to $232.00 in a report on Monday, January 4th. Robert W. Baird reiterated a “hold” rating on shares of Illinois Tool Works in a research report on Tuesday, February 23rd. The Goldman Sachs Group upgraded shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and lifted their price target for the company from $195.00 to $217.00 in a research report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Illinois Tool Works from $96.00 to $206.00 and gave the company a “hold” rating in a research report on Monday, February 8th. Finally, Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $204.41.

Shares of NYSE:ITW opened at $219.95 on Thursday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.92 and a current ratio of 2.37. Illinois Tool Works Inc. has a 52-week low of $148.27 and a 52-week high of $228.77. The company has a market capitalization of $69.61 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 3.88 and a beta of 1.07. The company has a fifty day moving average of $213.43 and a 200-day moving average of $205.68.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.23. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the firm posted $1.87 earnings per share. Illinois Tool Works’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 6.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be paid a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $4.56 annualized dividend and a dividend yield of 2.07%. Illinois Tool Works’s dividend payout ratio is 58.84%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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