First Allied Advisory Services Inc. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 38.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,686 shares of the industrial products company’s stock after acquiring an additional 750 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Illinois Tool Works were worth $400,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in Illinois Tool Works during the 2nd quarter valued at $601,000. Quantbot Technologies LP raised its stake in Illinois Tool Works by 71.3% during the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after buying an additional 10,457 shares during the last quarter. Ffcm LLC raised its stake in Illinois Tool Works by 6.4% during the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after buying an additional 714 shares during the last quarter. Oakmont Partners LLC raised its stake in Illinois Tool Works by 51.1% during the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 5,362 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in Illinois Tool Works by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 786 shares during the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.
In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roland M. Martel sold 64,818 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $167.41, for a total value of $10,851,181.38. Following the completion of the sale, the insider now owns 26,222 shares of the company’s stock, valued at approximately $4,389,825.02. The disclosure for this sale can be found here. Insiders sold a total of 221,324 shares of company stock valued at $35,645,914 in the last quarter. 0.90% of the stock is currently owned by company insiders.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $163.82 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $56,145.13, a price-to-earnings ratio of 26.01, a PEG ratio of 2.43 and a beta of 1.18. Illinois Tool Works Inc. has a 12 month low of $120.06 and a 12 month high of $169.69.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business posted $1.50 EPS. Illinois Tool Works’s revenue was up 3.4% on a year-over-year basis. research analysts anticipate that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.90%. Illinois Tool Works’s payout ratio is presently 47.78%.
A number of brokerages have weighed in on ITW. Argus reiterated a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. BMO Capital Markets boosted their target price on shares of Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. Credit Suisse Group reduced their price objective on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 price objective (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Finally, Citigroup restated a “buy” rating and issued a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $164.38.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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