GYL Financial Synergies LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, Holdings Channel reports. The fund acquired 10,543 shares of the industrial products company’s stock, valued at approximately $1,513,000.
Several other large investors also recently modified their holdings of ITW. Pearl River Capital LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $25,000. Rational Advisors LLC raised its position in Illinois Tool Works by 1,492.3% in the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 194 shares during the last quarter. WP Advisors LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at $28,000. Mark Sheptoff Financial Planning LLC raised its position in Illinois Tool Works by 512.8% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Athena Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 77.59% of the company’s stock.
Several analysts recently commented on the stock. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Friday, April 26th. Argus upped their price target on shares of Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 26th. 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. Morgan Stanley set a $134.00 price target on shares of Illinois Tool Works and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, UBS Group upped their price target on shares of Illinois Tool Works from $137.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $142.59.
In other Illinois Tool Works news, EVP John R. Hartnett sold 14,323 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the transaction, the executive vice president now directly owns 31,695 shares in the company, valued at approximately $4,866,767.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the completion of the transaction, the vice president now owns 21,603 shares in the company, valued at $3,244,122.51. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.
NYSE:ITW traded down $1.40 on Wednesday, reaching $151.00. The stock had a trading volume of 31,327 shares, compared to its average volume of 1,396,863. The firm has a market cap of $50.35 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.47 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $158.69.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.01. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 7.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be issued a $1.00 dividend. The ex-dividend date is Thursday, June 27th. This represents a $4.00 dividend on an annualized basis and a yield of 2.65%. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.
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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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