Illinois Tool Works Inc. (ITW) Shares Bought by Welch & Forbes LLC

Welch & Forbes LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,402 shares of the industrial products company’s stock after acquiring an additional 881 shares during the quarter. Welch & Forbes LLC’s holdings in Illinois Tool Works were worth $2,205,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Focused Wealth Management Inc bought a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp increased its holdings in shares of Illinois Tool Works by 100.0% during the fourth quarter. Toth Financial Advisory Corp now owns 350 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 175 shares during the period. Legacy Financial Advisors Inc. increased its holdings in shares of Illinois Tool Works by 101.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 374 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 188 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in shares of Illinois Tool Works by 187.1% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 402 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 262 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in shares of Illinois Tool Works by 100.0% during the fourth quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 210 shares during the period. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 108,885 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $133.19, for a total value of $14,502,393.15. Following the sale, the chief executive officer now owns 149,777 shares in the company, valued at $19,948,798.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Hartnett sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the completion of the sale, the executive vice president now owns 29,448 shares in the company, valued at approximately $4,034,376. The disclosure for this sale can be found here. Insiders sold 200,772 shares of company stock worth $26,864,670 over the last three months. 0.82% of the stock is currently owned by insiders.

NYSE:ITW traded up $1.53 during mid-day trading on Tuesday, reaching $137.76. The stock had a trading volume of 5,566 shares, compared to its average volume of 1,621,770. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.63 and a quick ratio of 1.26. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $171.83.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.01. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share. As a group, analysts anticipate that Illinois Tool Works Inc. will post 7.97 EPS for the current fiscal year.

Several research analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. JPMorgan Chase & Co. cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Thursday, January 10th. Robert W. Baird set a $130.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Wednesday, October 24th. Wells Fargo & Co set a $145.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Thursday, October 25th. Finally, Seaport Global Securities cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $132.00 in a report on Thursday, October 25th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $137.93.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2019/02/12/illinois-tool-works-inc-itw-shares-bought-by-welch-forbes-llc.html.

About Illinois Tool Works

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.

Recommended Story: What is a bull market?

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply