Spearhead Capital Advisors LLC Purchases 9,939 Shares of Illinois Tool Works Inc. (ITW)

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Spearhead Capital Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 57.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,242 shares of the industrial products company’s stock after purchasing an additional 9,939 shares during the quarter. Spearhead Capital Advisors LLC’s holdings in Illinois Tool Works were worth $3,910,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ITW. JPMorgan Chase & Co. lifted its position in Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after purchasing an additional 274,579 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock valued at $677,888,000 after purchasing an additional 830,998 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Illinois Tool Works by 3.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 51,797 shares of the industrial products company’s stock valued at $7,310,000 after purchasing an additional 1,704 shares during the last quarter. AQR Capital Management LLC lifted its position in Illinois Tool Works by 43.2% in the 3rd quarter. AQR Capital Management LLC now owns 419,698 shares of the industrial products company’s stock valued at $59,228,000 after purchasing an additional 126,617 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new stake in Illinois Tool Works in the 3rd quarter valued at about $2,835,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

A number of analysts have commented on ITW shares. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. BMO Capital Markets dropped their price target on shares of Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a research report on Monday, February 25th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $128.00 to $124.00 in a research report on Tuesday, February 5th. Finally, Credit Suisse Group restated a “hold” rating on shares of Illinois Tool Works in a research report on Friday, February 1st. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $136.60.

Shares of ITW stock traded down $0.05 during midday trading on Tuesday, reaching $157.14. 39,619 shares of the company were exchanged, compared to its average volume of 1,391,670. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $158.89. The company has a market capitalization of $51.27 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the firm earned $1.70 EPS. Illinois Tool Works’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Illinois Tool Works Inc. will post 7.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 29th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.55%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

In other news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total value of $6,349,737.66. Following the transaction, the insider now owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the completion of the transaction, the executive vice president now directly owns 29,448 shares in the company, valued at approximately $4,034,376. The disclosure for this sale can be found here. Insiders sold a total of 128,970 shares of company stock worth $18,348,472 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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