Keybank National Association OH cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,011 shares of the industrial products company’s stock after selling 767 shares during the period. Keybank National Association OH’s holdings in Illinois Tool Works were worth $13,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of ITW. Omnia Family Wealth LLC raised its holdings in shares of Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the period. Private Vista LLC raised its holdings in shares of Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after buying an additional 277,508 shares during the period. Harding Loevner LP bought a new position in Illinois Tool Works in the second quarter worth approximately $115,000. WFG Advisors LP grew its stake in Illinois Tool Works by 24.7% in the second 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. grew its stake in Illinois Tool Works by 1.9% in the second 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. Institutional investors and hedge funds own 74.83% of the company’s stock.
ITW has been the topic of several research analyst reports. Argus reissued a “buy” rating and issued a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $171.00 target price (up previously from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. Morgan Stanley increased their target price on 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. Wells Fargo & Company set a $170.00 target price on 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. Finally, BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. One equities 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 $160.93.
Illinois Tool Works Inc. (NYSE:ITW) traded up $1.35 during trading hours on Monday, hitting $166.22. The stock had a trading volume of 2,221,485 shares, compared to its average volume of 1,208,365. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $169.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The firm has a market cap of $56,484.30, a PE ratio of 26.17, a PEG ratio of 2.46 and a beta of 1.18.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating 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 firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $1.50 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. equities research analysts expect that Illinois Tool Works Inc. will post 6.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
In other news, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 95,328 shares in the company, valued at approximately $14,984,608.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction that occurred on 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. Over the last quarter, insiders sold 126,506 shares of company stock worth $19,801,832. 0.90% of the stock is currently owned by insiders.
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Illinois Tool Works 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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