First Midwest Bank Trust Division lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,298 shares of the industrial products company’s stock after buying an additional 1,204 shares during the quarter. First Midwest Bank Trust Division’s holdings in Illinois Tool Works were worth $2,116,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares in the last quarter. Private Vista LLC increased its position in Illinois Tool Works by 13,697.3% during the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 277,508 shares in the last quarter. Harding Loevner LP purchased a new stake in Illinois Tool Works during the 2nd quarter worth about $115,000. WFG Advisors LP increased its position in Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its position in Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 17 shares in the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $157.14 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $53,836.01, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a fifty-two week low of $120.06 and a fifty-two week high of $159.36.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. equities research analysts forecast that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is currently 47.78%.
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In other news, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 126,506 shares of company stock valued at $19,801,832 in the last quarter. Company insiders own 0.90% of the company’s stock.
A number of research firms recently commented on ITW. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank Of Canada lifted their price objective on Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a research report on Tuesday, October 24th. Argus reiterated a “buy” rating and set a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Finally, Credit Suisse Group dropped their price objective on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $157.27.
Illinois Tool Works Company 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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