Traders Purchase High Volume of Call Options on Illinois Tool Works (ITW)
Illinois Tool Works Inc. (NYSE:ITW) was the target of some unusual options trading on Thursday. Stock traders purchased 4,464 call options on the company. This represents an increase of approximately 1,261% compared to the typical volume of 328 call options.
Shares of Illinois Tool Works (ITW) opened at $164.87 on Friday. 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 cap of $56,484.30, a P/E ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.18. Illinois Tool Works has a 1-year low of $120.06 and a 1-year high of $169.69.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. Illinois Tool Works’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. analysts expect that Illinois Tool Works will post 6.69 earnings per share for the current fiscal year.
Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research report on Wednesday, August 16th. J P Morgan Chase & Co cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $141.00 to $132.00 in a research report on Thursday, August 17th. Robert W. Baird set a $145.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, August 24th. BidaskClub cut shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $143.00 target price on shares of Illinois Tool Works in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $158.60.
In related news, VP Norman D. Jr. Finch purchased 4,986 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the purchase, the vice president now owns 4,371 shares of the company’s stock, valued at $683,362.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders have sold a total of 126,506 shares of company stock valued at $19,801,832 in the last quarter. Company insiders own 0.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Omnia Family Wealth LLC raised its holdings in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Harding Loevner LP bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $115,000. WFG Advisors LP raised its holdings in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $130,000. Finally, Salem Investment Counselors Inc. raised its holdings in Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares during the period. 74.81% of the stock is currently owned by institutional investors.
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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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