River Road Asset Management LLC Takes $39.01 Million Position in Illinois Tool Works Inc. (ITW)

River Road Asset Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 307,945 shares of the industrial products company’s stock, valued at approximately $39,014,000.

Several other large investors also recently made changes to their positions in ITW. Oregon Public Employees Retirement Fund raised its holdings in shares of Illinois Tool Works by 12,441.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock valued at $79,000 after buying an additional 9,962,137 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock valued at $975,518,000 after buying an additional 1,401,794 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Illinois Tool Works by 20.9% during 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 buying an additional 830,998 shares during the period. BlackRock Inc. raised its holdings in shares of Illinois Tool Works by 2.5% during the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock valued at $3,004,489,000 after buying an additional 528,550 shares during the period. Finally, Coho Partners Ltd. raised its holdings in shares of Illinois Tool Works by 52.7% during the 4th quarter. Coho Partners Ltd. now owns 1,185,871 shares of the industrial products company’s stock valued at $150,238,000 after buying an additional 409,472 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.

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Several equities research analysts recently commented on ITW shares. Citigroup downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price on the stock. in a report on Monday, January 14th. Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $132.00 in a report on Thursday, October 25th. Morgan Stanley downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $131.00 to $115.00 in a report on Tuesday, December 18th. Wells Fargo & Co reiterated a “buy” rating and set a $150.00 target price (down from $160.00) on shares of Illinois Tool Works in a report on Wednesday, October 17th. Finally, Deutsche Bank downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and dropped their target price for the company from $133.00 to $125.00 in a report on Sunday, December 16th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $137.93.

NYSE ITW traded down $0.73 during mid-day trading on Thursday, reaching $139.09. 21,558 shares of the company’s stock traded hands, compared to its average volume of 1,590,104. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $171.83. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. The firm has a market cap of $46.35 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm earned $1.70 EPS. Illinois Tool Works’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.

In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,651 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the completion of the sale, the insider now owns 44,954 shares in the company, valued at approximately $6,192,413.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $137.00, for a total value of $1,986,500.00. Following the sale, the executive vice president now owns 29,448 shares of the company’s stock, valued at approximately $4,034,376. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,772 shares of company stock valued at $26,864,670. 0.82% of the stock is owned by insiders.

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About Illinois Tool Works

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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