Johnson Financial Group Inc. Purchases 1,006 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Johnson Financial Group Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 31.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,228 shares of the industrial products company’s stock after acquiring an additional 1,006 shares during the quarter. Johnson Financial Group Inc.’s holdings in Illinois Tool Works were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after buying an additional 84 shares in the last quarter. Rockline Wealth Management LLC bought a new position in shares of Illinois Tool Works in the 4th quarter valued at about $4,180,000. Wesbanco Bank Inc. grew its position in Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 1,152 shares in the last quarter. Ziegler Capital Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $224,000. Finally, Tyche Wealth Partners LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $2,972,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Barclays reduced their target price on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $257.78.

Illinois Tool Works Stock Performance

ITW stock traded down $1.38 during trading on Friday, reaching $240.07. The company had a trading volume of 997,894 shares, compared to its average volume of 1,028,236. The company has a market cap of $71.64 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.14. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a 50-day simple moving average of $254.61 and a 200-day simple moving average of $254.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.24 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is 55.23%.

Illinois Tool Works 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.