Fifth Third Bancorp reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 397,258 shares of the industrial products company’s stock after selling 39,548 shares during the quarter. Fifth Third Bancorp owned 0.12% of Illinois Tool Works worth $56,061,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Trust Advisors LP grew its holdings in Illinois Tool Works by 11.8% during the second quarter. First Trust Advisors LP now owns 295,833 shares of the industrial products company’s stock worth $40,985,000 after buying an additional 31,230 shares in the last quarter. Sigma Planning Corp grew its stake in Illinois Tool Works by 13.7% in the 2nd quarter. Sigma Planning Corp now owns 5,932 shares of the industrial products company’s stock valued at $822,000 after purchasing an additional 715 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Illinois Tool Works in the 2nd quarter valued at $4,422,000. Sei Investments Co. grew its stake in Illinois Tool Works by 1.0% in the 2nd quarter. Sei Investments Co. now owns 120,163 shares of the industrial products company’s stock valued at $16,648,000 after purchasing an additional 1,182 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Illinois Tool Works by 8.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 51,364 shares of the industrial products company’s stock valued at $7,116,000 after purchasing an additional 3,798 shares during the period. Institutional investors own 76.48% of the company’s stock.
ITW stock opened at $129.47 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. The firm has a market cap of $44.22 billion, a PE ratio of 17.84, a PEG ratio of 1.77 and a beta of 1.28. Illinois Tool Works Inc. has a fifty-two week low of $119.38 and a fifty-two week high of $179.07.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 7.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 28th. This represents a $4.00 annualized dividend and a dividend yield of 3.09%. Illinois Tool Works’s payout ratio is 60.70%.
A number of research analysts have issued reports on ITW shares. Citigroup set a $148.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. Morgan Stanley set a $131.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, October 25th. Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. ValuEngine upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Deutsche Bank set a $134.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $147.69.
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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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