IFM Investors Pty Ltd Buys 2,672 Shares of Illinois Tool Works Inc. (NYSE:ITW)

IFM Investors Pty Ltd lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,291 shares of the industrial products company’s stock after buying an additional 2,672 shares during the period. IFM Investors Pty Ltd’s holdings in Illinois Tool Works were worth $5,080,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Berman Capital Advisors LLC boosted its position in shares of Illinois Tool Works by 8.5% during the second quarter. Berman Capital Advisors LLC now owns 704 shares of the industrial products company’s stock valued at $122,000 after buying an additional 55 shares during the last quarter. Aries Wealth Management increased its stake in Illinois Tool Works by 0.6% in the 3rd quarter. Aries Wealth Management now owns 8,602 shares of the industrial products company’s stock worth $1,662,000 after acquiring an additional 55 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of Illinois Tool Works by 1.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 3,579 shares of the industrial products company’s stock worth $691,000 after purchasing an additional 56 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Illinois Tool Works by 0.7% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 8,485 shares of the industrial products company’s stock worth $1,484,000 after purchasing an additional 59 shares during the period. Finally, Nachman Norwood & Parrott Inc boosted its holdings in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 14,475 shares of the industrial products company’s stock worth $2,531,000 after purchasing an additional 61 shares during the period. 78.12% of the stock is currently owned by institutional investors.

NYSE:ITW traded up $2.85 during mid-day trading on Friday, hitting $206.64. 1,219,723 shares of the company’s stock traded hands, compared to its average volume of 1,380,735. The company has a fifty day moving average of $197.01 and a 200 day moving average of $177.70. Illinois Tool Works Inc. has a twelve month low of $115.94 and a twelve month high of $207.75. The company has a market capitalization of $65.33 billion, a P/E ratio of 30.34, a P/E/G ratio of 6.37 and a beta of 1.15. The company has a debt-to-equity ratio of 3.29, a quick ratio of 2.18 and a current ratio of 2.75.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, July 31st. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.31. Illinois Tool Works had a return on equity of 81.80% and a net margin of 17.16%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s quarterly revenue was down 29.0% compared to the same quarter last year. On average, research analysts expect that Illinois Tool Works Inc. will post 5.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, September 29th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.07. Illinois Tool Works’s payout ratio is presently 58.84%.

A number of equities analysts have recently commented on ITW shares. Barclays started coverage on Illinois Tool Works in a report on Tuesday, August 25th. They issued an “equal weight” rating and a $197.00 target price for the company. Bank of America lifted their target price on Illinois Tool Works from $130.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, August 3rd. Morgan Stanley lifted their target price on Illinois Tool Works from $162.00 to $167.00 and gave the stock an “underweight” rating in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $168.00 to $173.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Finally, Credit Suisse Group lifted their target price on Illinois Tool Works from $174.00 to $195.00 in a report on Monday, August 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $173.69.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 66,821 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $187.09, for a total transaction of $12,501,540.89. Following the sale, the chief financial officer now owns 52,319 shares in the company, valued at approximately $9,788,361.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lei Zhang Schlitz sold 13,564 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $186.06, for a total value of $2,523,717.84. Following the sale, the executive vice president now owns 19,735 shares in the company, valued at approximately $3,671,894.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,879 shares of company stock worth $27,240,677. Company insiders own 0.79% of the company’s stock.

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

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