Ontario Teachers Pension Plan Board Has $12.91 Million Holdings in Illinois Tool Works Inc. (ITW)

Ontario Teachers Pension Plan Board lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,366 shares of the industrial products company’s stock after buying an additional 1,276 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Illinois Tool Works were worth $12,909,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Advisors LLC raised its holdings in shares of Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after buying an additional 623 shares during the last quarter. Harding Loevner LP bought a new position in shares of Illinois Tool Works in the second quarter valued at about $115,000. WFG Advisors LP raised its holdings in shares of Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after buying an additional 161 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after buying an additional 17 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at about $130,000. 74.41% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on ITW. Argus reaffirmed a “buy” rating and issued a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Seaport Global Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of Illinois Tool Works in a report on Thursday, January 25th. BMO Capital Markets lifted their price target on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Finally, Credit Suisse Group cut their price target on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $177.18.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the completion of the transaction, the insider now directly owns 42,497 shares in the company, valued at approximately $7,564,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 113,468 shares of company stock valued at $19,163,781 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $162.55 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $55,690.00, a PE ratio of 23.97, a P/E/G ratio of 2.09 and a beta of 1.18. Illinois Tool Works Inc. has a 12-month low of $128.03 and a 12-month high of $179.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.92%. Illinois Tool Works’s payout ratio is currently 46.02%.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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