Northside Capital Management LLC Acquires Shares of 3,100 Illinois Tool Works Inc. (NYSE:ITW)

Northside Capital Management LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,100 shares of the industrial products company’s stock, valued at approximately $485,000.

A number of other large investors have also recently modified their holdings of the business. Welch & Forbes LLC grew its position in Illinois Tool Works by 1.0% in the third quarter. Welch & Forbes LLC now owns 17,121 shares of the industrial products company’s stock valued at $2,679,000 after acquiring an additional 164 shares in the last quarter. Rockland Trust Co. grew its position in Illinois Tool Works by 1.6% in the third quarter. Rockland Trust Co. now owns 4,503 shares of the industrial products company’s stock valued at $675,000 after acquiring an additional 73 shares in the last quarter. Intellectus Partners LLC grew its position in Illinois Tool Works by 11.2% in the third quarter. Intellectus Partners LLC now owns 2,923 shares of the industrial products company’s stock valued at $461,000 after acquiring an additional 294 shares in the last quarter. Pacer Advisors Inc. grew its position in Illinois Tool Works by 10.4% in the third quarter. Pacer Advisors Inc. now owns 31,862 shares of the industrial products company’s stock valued at $4,986,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Gofen & Glossberg LLC IL grew its position in Illinois Tool Works by 2.1% in the third quarter. Gofen & Glossberg LLC IL now owns 25,719 shares of the industrial products company’s stock valued at $4,025,000 after acquiring an additional 517 shares in the last quarter. 77.46% of the stock is owned by institutional investors.

Several analysts have issued reports on the stock. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective for the company. in a research report on Wednesday, June 26th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target for the company. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Credit Suisse Group raised their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target for the company. in a research report on Tuesday, July 9th. Six analysts have rated the stock with a sell rating, ten 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 $142.44.

Shares of ITW stock traded up $6.78 during mid-day trading on Friday, reaching $156.68. 1,081,556 shares of the company were exchanged, compared to its average volume of 1,109,285. The company has a market capitalization of $47.36 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.60 and a beta of 1.22. The business’s 50 day simple moving average is $152.14 and its 200 day simple moving average is $150.96. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $161.71.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.97 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 7.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s payout ratio is currently 56.32%.

In other Illinois Tool Works news, EVP Juan Valls sold 64,894 shares of Illinois Tool Works stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $160.51, for a total value of $10,416,135.94. Following the completion of the transaction, the executive vice president now owns 67,047 shares of the company’s stock, valued at $10,761,713.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of Illinois Tool Works stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the completion of the transaction, the insider now directly owns 16,315 shares of the company’s stock, valued at approximately $2,610,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,458 shares of company stock valued at $25,172,163. 0.87% of the stock is currently owned by corporate insiders.

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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