Wolverine Asset Management LLC Buys 5,000 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wolverine Asset Management LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 111.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the industrial products company’s stock after acquiring an additional 5,000 shares during the period. Wolverine Asset Management LLC’s holdings in Illinois Tool Works were worth $2,409,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Mattern Capital Management LLC boosted its holdings in Illinois Tool Works by 2.1% in the fourth quarter. Mattern Capital Management LLC now owns 34,299 shares of the industrial products company’s stock valued at $8,697,000 after acquiring an additional 698 shares during the last quarter. Flossbach Von Storch SE boosted its holdings in Illinois Tool Works by 34.5% in the fourth quarter. Flossbach Von Storch SE now owns 300,760 shares of the industrial products company’s stock valued at $76,261,000 after acquiring an additional 77,164 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Illinois Tool Works by 9.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 15,148 shares of the industrial products company’s stock valued at $3,841,000 after acquiring an additional 1,259 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Illinois Tool Works by 4.6% in the fourth quarter. Handelsbanken Fonder AB now owns 151,737 shares of the industrial products company’s stock valued at $38,474,000 after acquiring an additional 6,742 shares during the last quarter. Finally, Mcdaniel Terry & Co. boosted its holdings in Illinois Tool Works by 8.7% in the fourth quarter. Mcdaniel Terry & Co. now owns 187,715 shares of the industrial products company’s stock valued at $47,597,000 after acquiring an additional 14,959 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Trading Down 0.5 %

NYSE ITW opened at $264.30 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a market capitalization of $77.57 billion, a P/E ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11. The business has a fifty day simple moving average of $257.08 and a 200 day simple moving average of $258.29. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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%. On average, analysts predict that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays cut their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. 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 report on Wednesday. Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $269.30.

About Illinois Tool Works

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.