BlueCrest Capital Management Ltd lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,618 shares of the industrial products company’s stock after purchasing an additional 1,663 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Illinois Tool Works were worth $1,104,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $112,000. Legacy Advisors LLC raised its position in shares of Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 623 shares during the period. Santori & Peters Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $121,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $130,000. Finally, Risk Paradigm Group LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $133,000. 77.65% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (ITW) opened at $169.93 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The firm has a market capitalization of $58,040.00, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21. Illinois Tool Works Inc. has a one year low of $129.17 and a one year high of $179.07.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.84%. Illinois Tool Works’s dividend payout ratio is 46.02%.
ITW has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a report on Thursday, January 4th. Royal Bank of Canada reiterated a “hold” rating and set a $166.00 price objective on shares of Illinois Tool Works in a report on Tuesday, December 5th. Bank of America initiated coverage on Illinois Tool Works in a report on Monday, December 11th. They set a “buy” rating and a $190.00 price objective for the company. Finally, Wells Fargo & Co set a $190.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $177.18.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the transaction, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.
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Illinois Tool Works Profile
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.
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