Whitnell & Co. raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 39.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,497 shares of the industrial products company’s stock after acquiring an additional 8,101 shares during the period. Illinois Tool Works makes up 1.5% of Whitnell & Co.’s holdings, making the stock its 20th largest position. Whitnell & Co.’s holdings in Illinois Tool Works were worth $4,459,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ITW. Swaine & Leidel Wealth Services LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth $2,489,000. Montag A & Associates Inc. raised its position in shares of Illinois Tool Works by 7.6% during the third quarter. Montag A & Associates Inc. now owns 9,861 shares of the industrial products company’s stock worth $1,543,000 after purchasing an additional 695 shares during the period. First Trust Advisors LP raised its position in shares of Illinois Tool Works by 18.7% during the third quarter. First Trust Advisors LP now owns 689,810 shares of the industrial products company’s stock worth $107,948,000 after purchasing an additional 108,697 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Illinois Tool Works by 6.6% during the third quarter. Daiwa Securities Group Inc. now owns 13,892 shares of the industrial products company’s stock worth $2,174,000 after purchasing an additional 859 shares during the period. Finally, Bartlett & Co. LLC raised its position in shares of Illinois Tool Works by 127.6% during the third quarter. Bartlett & Co. LLC now owns 276,449 shares of the industrial products company’s stock worth $43,262,000 after purchasing an additional 154,998 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ITW stock traded down $0.10 on Friday, reaching $176.41. 995,797 shares of the company’s stock traded hands, compared to its average volume of 1,318,047. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $179.29. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.27 and a current ratio of 2.81. The company has a market capitalization of $56.63 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 2.99 and a beta of 1.22. The business’s 50 day moving average price is $160.07 and its two-hundred day moving average price is $153.13.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.10. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. Illinois Tool Works’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 7.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.07 dividend. The ex-dividend date is Monday, December 30th. This represents a $4.28 dividend on an annualized basis and a yield of 2.43%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.32%.
In other Illinois Tool Works news, CFO Michael M. Larsen sold 35,617 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $159.61, for a total value of $5,684,829.37. Following the transaction, the chief financial officer now owns 38,726 shares in the company, valued at $6,181,056.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael R. Zimmerman sold 6,600 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $172.43, for a total value of $1,138,038.00. Following the completion of the transaction, the executive vice president now owns 13,590 shares in the company, valued at approximately $2,343,323.70. The disclosure for this sale can be found here. Insiders sold 346,180 shares of company stock worth $57,725,646 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.
ITW has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Illinois Tool Works from $136.00 to $142.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Citigroup cut their target price on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Argus set a $180.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research report on Friday, October 25th. UBS Group boosted their target price on Illinois Tool Works from $154.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a report on Monday, October 28th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $150.57.
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.
See Also: What is Blockchain?
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.