Spinnaker Trust Purchases 161 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Spinnaker Trust boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,221 shares of the industrial products company’s stock after purchasing an additional 161 shares during the period. Spinnaker Trust’s holdings in Illinois Tool Works were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pensionfund Sabic increased its position in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. increased its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $1,729,000. Czech National Bank increased its position in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $1,179,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITW has been the subject of several research reports. Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target 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 price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Trading Down 0.8 %

ITW stock opened at $257.98 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The company’s 50-day simple moving average is $258.44 and its 200 day simple moving average is $257.58. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a market capitalization of $76.18 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current 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 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.