John R. Hartnett Sells 6,533 Shares of Illinois Tool Works Inc. (ITW) Stock
Illinois Tool Works Inc. (NYSE:ITW) insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.15% during midday trading on Wednesday, hitting $150.01. 1,374,794 shares of the stock traded hands. The company has a 50-day moving average price of $141.81 and a 200 day moving average price of $140.39. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.87. The stock has a market cap of $51.63 billion, a price-to-earnings ratio of 24.27 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a dividend of $0.78 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.08%. Illinois Tool Works’s payout ratio is presently 50.49%.
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A number of institutional investors have recently made changes to their positions in ITW. BlackRock Inc. lifted its position in shares of Illinois Tool Works by 1,661.3% during the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Illinois Tool Works by 2,939.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after buying an additional 3,628,722 shares in the last quarter. Koch Industries Inc. boosted its holdings in shares of Illinois Tool Works by 31,484.3% in the 2nd quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock valued at $763,000 after buying an additional 765,699 shares in the last quarter. HPM Partners LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $95,987,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Illinois Tool Works by 100.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after buying an additional 707,287 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.
A number of brokerages have recently issued reports on ITW. BidaskClub lowered Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a report on Friday, July 14th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $151.50.
About Illinois Tool Works
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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