Stevens Capital Management LP Makes New $375,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Stevens Capital Management LP purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,477 shares of the industrial products company’s stock, valued at approximately $375,000.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Illinois Tool Works by 25.3% during the third quarter. Pacer Advisors Inc. now owns 44,247 shares of the industrial products company’s stock valued at $11,596,000 after buying an additional 8,922 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $723,000. Cerity Partners LLC increased its stake in shares of Illinois Tool Works by 5.4% during the third quarter. Cerity Partners LLC now owns 248,369 shares of the industrial products company’s stock valued at $65,095,000 after buying an additional 12,649 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Illinois Tool Works by 17.2% during the third quarter. Kingsview Wealth Management LLC now owns 10,126 shares of the industrial products company’s stock valued at $2,654,000 after buying an additional 1,483 shares during the period. Finally, Swedbank AB increased its stake in shares of Illinois Tool Works by 2.0% during the third quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock valued at $23,066,000 after buying an additional 1,768 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Down 0.9 %

Illinois Tool Works stock opened at $251.05 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The business’s fifty day simple moving average is $258.48 and its two-hundred day simple moving average is $260.57. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $73.68 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ITW. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $269.10.

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.