Tredje AP fonden lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,592 shares of the industrial products company’s stock after purchasing an additional 857 shares during the quarter. Tredje AP fonden’s holdings in Illinois Tool Works were worth $2,964,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Greenleaf Trust raised its stake in Illinois Tool Works by 1.1% during the fourth quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 54 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Illinois Tool Works by 4.6% in the 4th quarter. Fiera Capital Corp now owns 1,342 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 59 shares during the last quarter. Lynch & Associates IN boosted its holdings in shares of Illinois Tool Works by 0.4% in the 1st quarter. Lynch & Associates IN now owns 15,548 shares of the industrial products company’s stock worth $2,210,000 after purchasing an additional 65 shares during the period. Assetmark Inc. increased its position in shares of Illinois Tool Works by 6.7% during the 4th quarter. Assetmark Inc. now owns 1,131 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 71 shares during the last quarter. Finally, BSW Wealth Partners raised its holdings in Illinois Tool Works by 4.5% during the 4th quarter. BSW Wealth Partners now owns 1,668 shares of the industrial products company’s stock valued at $300,000 after buying an additional 72 shares during the period. Institutional investors own 79.23% of the company’s stock.
In related news, CEO Ernest Scott Santi purchased 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, with a total value of $998,046.00. Following the transaction, the chief executive officer now owns 141,994 shares in the company, valued at approximately $22,494,689.48. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard H. Lenny acquired 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were 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. Insiders own 0.79% of the company’s stock.
NYSE ITW traded down $0.35 on Friday, reaching $163.75. 727,170 shares of the stock traded hands, compared to its average volume of 1,448,303. Illinois Tool Works Inc. has a 12 month low of $115.94 and a 12 month high of $190.85. The company has a market cap of $51.84 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.13 and a beta of 1.16. The company has a fifty day moving average price of $156.32 and a 200-day moving average price of $168.68. The company has a debt-to-equity ratio of 3.37, a quick ratio of 2.13 and a current ratio of 2.71.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.71 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.29 billion. Illinois Tool Works had a return on equity of 87.33% and a net margin of 18.06%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 5.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.
ITW has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $138.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Credit Suisse Group cut their price target on shares of Illinois Tool Works from $151.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Gordon Haskett downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price objective for the company. in a research note on Friday, May 8th. Jefferies Financial Group cut Illinois Tool Works from a “buy” rating to a “hold” rating and cut their target price for the company from $208.00 to $145.00 in a research note on Tuesday, March 31st. Finally, Wells Fargo & Co reduced their price target on Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $157.82.
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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