1,697 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Krane Funds Advisors LLC

Krane Funds Advisors LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,697 shares of the industrial products company’s stock, valued at approximately $430,000.

Other institutional investors have also added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works in the fourth quarter valued at $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $31,000. Atlantic Private Wealth LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on 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. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of 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, February 19th. Barclays decreased their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Evercore ISI lowered their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $268.30.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $225.25 on Monday. Illinois Tool Works Inc. has a 52-week low of $212.88 and a 52-week high of $279.13. The company has a market cap of $66.08 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 4.56 and a beta of 1.12. The firm’s fifty day moving average is $256.77 and its 200 day moving average is $260.49. 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 (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 net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on 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 owns 55,113 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 159,925 shares of company stock valued at $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.