Bank Julius Baer & Co. Ltd Zurich Has $16.13 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,409 shares of the industrial products company’s stock after purchasing an additional 2,151 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Illinois Tool Works were worth $16,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% in 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. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works during the fourth quarter worth $33,000. Hager Investment Management Services LLC bought a new position in Illinois Tool Works during the fourth quarter worth $37,000. Finally, Asset Planning Inc bought a new position in Illinois Tool Works during the fourth quarter worth $40,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 3.7 %

NYSE ITW opened at $274.89 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average is $257.54 and its 200 day moving average is $260.05. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm 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.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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 fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays lowered their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note 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. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.