RMB Capital Management LLC lifted its stake in shares of Illinois Tool Works (NYSE:ITW) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,909 shares of the industrial products company’s stock after acquiring an additional 6,334 shares during the quarter. RMB Capital Management LLC’s holdings in Illinois Tool Works were worth $11,265,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $112,000. Clearwater Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the first quarter worth $117,000. Santori & Peters Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $121,000. Parisi Gray Wealth Management boosted its position in shares of Illinois Tool Works by 88.8% in the first quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock worth $123,000 after buying an additional 372 shares during the period. Finally, Archford Capital Strategies LLC acquired a new stake in shares of Illinois Tool Works in the first quarter worth $130,000. 77.18% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ITW opened at $147.18 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.20 and a debt-to-equity ratio of 1.65. Illinois Tool Works has a 1 year low of $135.07 and a 1 year high of $179.07. The firm has a market cap of $49.34 billion, a P/E ratio of 22.33, a PEG ratio of 1.85 and a beta of 1.23.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.04. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $1.54 earnings per share. Illinois Tool Works’s quarterly revenue was up 7.9% compared to the same quarter last year. analysts anticipate that Illinois Tool Works will post 7.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 29th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $3.12 annualized dividend and a yield of 2.12%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.34%.
Several brokerages have recently commented on ITW. ValuEngine cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating for the company in a research report on Monday, April 16th. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, March 19th. BMO Capital Markets decreased their target price on Illinois Tool Works from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Friday, May 4th. Finally, Goldman Sachs Group raised Illinois Tool Works from a “buy” rating to a “conviction-buy” rating and decreased their target price for the stock from $191.00 to $177.00 in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $177.67.
Illinois Tool Works 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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