Johnson Investment Counsel Inc. Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Johnson Investment Counsel Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,950 shares of the industrial products company’s stock after buying an additional 3,061 shares during the quarter. Johnson Investment Counsel Inc. owned approximately 0.10% of Illinois Tool Works worth $72,506,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Illinois Tool Works in the third quarter worth approximately $69,000. CWA Asset Management Group LLC purchased a new position in Illinois Tool Works in the 3rd quarter valued at $2,672,000. Verdence Capital Advisors LLC boosted its stake in Illinois Tool Works by 2.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,808 shares of the industrial products company’s stock worth $2,570,000 after purchasing an additional 218 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Illinois Tool Works by 6.4% during the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock worth $499,000 after buying an additional 114 shares in the last quarter. Finally, Essex Savings Bank raised its position in shares of Illinois Tool Works by 2.1% in the third quarter. Essex Savings Bank now owns 4,098 shares of the industrial products company’s stock valued at $1,074,000 after buying an additional 85 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ITW. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $269.30.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 3.7 %

Shares of NYSE ITW opened at $274.89 on Monday. 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 business’s 50 day moving average is $257.54 and its two-hundred day moving average is $260.15. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market cap of $80.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13.

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 (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%. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.