Schroder Investment Management Group Increases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Schroder Investment Management Group raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,721,920 shares of the industrial products company’s stock after purchasing an additional 205,327 shares during the quarter. Schroder Investment Management Group’s holdings in Illinois Tool Works were worth $436,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $31,000. Atlantic Private Wealth LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $246.34 on Friday. The company’s fifty day moving average is $258.40 and its 200 day moving average is $260.73. 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 Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The stock has a market cap of $72.30 billion, a PE ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate 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. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group raised their price target 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. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price objective 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. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a report on Wednesday. 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 given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $268.30.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % 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 three months. 1.26% of the stock is 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.