Illinois Tool Works Inc. (NYSE:ITW) VP Norman D. Jr. Finch acquired 4,986 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the acquisition, the vice president now owns 4,371 shares in the company, valued at approximately $683,362.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Illinois Tool Works Inc. (NYSE ITW) opened at $157.14 on Friday. The firm has a market cap of $53,836.01, a P/E ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a 1-year low of $120.06 and a 1-year high of $159.36. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. sell-side analysts expect that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
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Several analysts have recently weighed in on ITW shares. Argus reiterated a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. Morgan Stanley boosted their price target on shares of Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Wells Fargo & Company set a $170.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $157.27.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after acquiring an additional 18,221,359 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Illinois Tool Works by 2,939.8% in the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after acquiring an additional 3,628,722 shares during the last quarter. Vaughan David Investments Inc. IL lifted its stake in Illinois Tool Works by 34,278.6% in the third quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock valued at $35,779,000 after acquiring an additional 936,835 shares during the last quarter. Koch Industries Inc. lifted its stake in Illinois Tool Works by 31,484.3% in the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock valued at $763,000 after acquiring an additional 765,699 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Illinois Tool Works by 100.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after acquiring an additional 707,287 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.
About Illinois Tool Works
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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