First National Bank of Mount Dora Trust Investment Services lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 23.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,168 shares of the industrial products company’s stock after selling 7,813 shares during the period. Illinois Tool Works makes up about 1.9% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 15th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Illinois Tool Works were worth $5,575,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Diversified LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $27,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $28,000. Exchange Traded Concepts LLC increased its holdings in shares of Illinois Tool Works by 259.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 176 shares of the industrial products company’s stock worth $36,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Group LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $37,000. 77.44% of the stock is owned by hedge funds and other institutional investors.
ITW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $96.00 to $206.00 and gave the company a “hold” rating in a research report on Monday, February 8th. Morgan Stanley lifted their price target on shares of Illinois Tool Works from $176.00 to $180.00 and gave the stock an “underweight” rating in a research note on Monday, February 8th. Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 15th. Credit Suisse Group raised shares of Illinois Tool Works from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $209.00 to $235.00 in a research note on Tuesday, January 12th. Finally, UBS Group raised Illinois Tool Works from a “neutral” rating to a “buy” rating and raised their price objective for the company from $211.00 to $232.00 in a research note on Monday, January 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus price target of $204.41.
ITW traded down $1.82 during trading on Thursday, hitting $218.13. 2,217 shares of the company’s stock traded hands, compared to its average volume of 1,133,616. The stock has a market capitalization of $69.03 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 3.88 and a beta of 1.07. The company’s 50 day simple moving average is $213.43 and its two-hundred day simple moving average is $205.68. Illinois Tool Works Inc. has a 12-month low of $148.27 and a 12-month high of $228.77. The company has a current ratio of 2.37, a quick ratio of 1.92 and a debt-to-equity ratio of 2.81.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.23. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the firm posted $1.87 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post 6.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s payout ratio is currently 58.84%.
In other news, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction on Monday, February 8th. The shares were sold at an average price of $203.00, for a total value of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the firm’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the sale, the chief executive officer now owns 295,172 shares in the company, valued at $60,619,473.64. The disclosure for this sale can be found here. 0.79% of the stock is 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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