Nicholas Hoffman & Company LLC. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,887 shares of the industrial products company’s stock after acquiring an additional 236 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Illinois Tool Works were worth $268,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ITW. CFM Wealth Partners LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $25,000. Stonebridge Financial Planning Group LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $51,000. Veritas Investment Management LLP bought a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $51,000. Finally, Filbrandt Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $52,000. 79.23% of the stock is currently owned by institutional investors and hedge funds.
ITW traded down $0.35 during mid-day trading on Friday, reaching $163.75. 727,170 shares of the company traded hands, compared to its average volume of 1,448,303. The stock has a market capitalization of $51.84 billion, a P/E ratio of 21.24, a P/E/G ratio of 4.13 and a beta of 1.16. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 3.37. The company’s fifty day moving average price is $156.32 and its 200-day moving average price is $168.68. Illinois Tool Works Inc. has a 52-week low of $115.94 and a 52-week high of $190.85.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, May 5th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.29 billion. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 5.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.61%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.
ITW has been the topic of a number of analyst reports. Citigroup boosted their price target on Illinois Tool Works from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Cfra boosted their price target on Illinois Tool Works from $146.00 to $157.00 and gave the stock a “sell” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley boosted their price target on Illinois Tool Works from $148.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $208.00 to $145.00 in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $157.82.
In related news, CEO Ernest Scott Santi acquired 6,300 shares of Illinois Tool Works stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $158.42 per share, for a total transaction of $998,046.00. Following the purchase, the chief executive officer now directly owns 141,994 shares of the company’s stock, valued at approximately $22,494,689.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Lenny acquired 1,575 shares of Illinois Tool Works stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $159.19 per share, with a total value of $250,724.25. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by 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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