Advisor Group Inc. increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 25.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,216 shares of the industrial products company’s stock after buying an additional 4,882 shares during the quarter. Advisor Group Inc.’s holdings in Illinois Tool Works were worth $4,040,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in Illinois Tool Works by 8.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 45,423 shares of the industrial products company’s stock valued at $7,579,000 after purchasing an additional 3,629 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Illinois Tool Works by 2.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,605 shares of the industrial products company’s stock valued at $11,234,000 after purchasing an additional 1,500 shares in the last quarter. Cambria Investment Management L.P. boosted its stake in Illinois Tool Works by 188.7% during the 3rd quarter. Cambria Investment Management L.P. now owns 40,486 shares of the industrial products company’s stock valued at $5,990,000 after purchasing an additional 26,464 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in Illinois Tool Works by 21.6% during the 3rd quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock valued at $36,045,000 after purchasing an additional 43,356 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in Illinois Tool Works by 21.3% during the 4th quarter. DnB Asset Management AS now owns 51,917 shares of the industrial products company’s stock valued at $8,662,000 after purchasing an additional 9,100 shares in the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on ITW shares. BMO Capital Markets increased their price target on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $166.00 price target on shares of Illinois Tool Works in a research note on Tuesday, December 5th. Bank of America started coverage on Illinois Tool Works in a research note on Monday, December 11th. They set a “buy” rating and a $190.00 price target for the company. Finally, Wells Fargo & Co set a $190.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $177.18.
Shares of Illinois Tool Works Inc. (ITW) opened at $169.20 on Tuesday. Illinois Tool Works Inc. has a 52-week low of $129.17 and a 52-week high of $179.07. The company has a market capitalization of $57,790.00, a price-to-earnings ratio of 24.96, a PEG ratio of 2.19 and a beta of 1.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts forecast that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.84%. Illinois Tool Works’s payout ratio is currently 46.02%.
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Illinois Tool Works 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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