Catalyst Funds Management Pty Ltd Purchases 300 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Catalyst Funds Management Pty Ltd raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,500 shares of the industrial products company’s stock after acquiring an additional 300 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Illinois Tool Works were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC raised its stake in shares of 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 worth $30,000 after buying an additional 106 shares during the period. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $33,000. Hager Investment Management Services LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $37,000. Finally, Asset Planning Inc bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $40,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ITW. Stifel Nicolaus decreased their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Citigroup cut their target price on 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. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $269.10.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated 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 owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

NYSE ITW opened at $254.72 on Friday. The stock has a market capitalization of $74.76 billion, a PE ratio of 21.73, a P/E/G ratio of 4.56 and a beta of 1.13. The business has a 50 day simple moving average of $257.83 and a two-hundred day simple moving average of $260.34. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts predict 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 2.36%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 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.