Axa boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,701 shares of the industrial products company’s stock after buying an additional 10,108 shares during the period. Axa owned about 0.09% of Illinois Tool Works worth $44,492,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Illinois Tool Works by 1,661.3% during the 1st 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 in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $6,838,000. Investment Centers of America Inc. grew its stake in shares of Illinois Tool Works by 25.0% in the 1st quarter. Investment Centers of America Inc. now owns 4,689 shares of the industrial products company’s stock valued at $623,000 after buying an additional 937 shares in the last quarter. Paloma Partners Management Co grew its stake in shares of Illinois Tool Works by 113.6% in the 1st quarter. Paloma Partners Management Co now owns 16,236 shares of the industrial products company’s stock valued at $2,151,000 after buying an additional 8,635 shares in the last quarter. Finally, Fiduciary Trust Co. grew its stake in shares of Illinois Tool Works by 5.7% in the 1st quarter. Fiduciary Trust Co. now owns 130,298 shares of the industrial products company’s stock valued at $17,261,000 after buying an additional 7,081 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
In related news, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Valls sold 48,622 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the sale, the executive vice president now owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,324 shares of company stock valued at $35,645,914. Corporate insiders own 0.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $165.17 on Friday. Illinois Tool Works Inc. has a 1-year low of $120.06 and a 1-year high of $169.69. 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 firm has a market capitalization of $55,723.73, a P/E ratio of 25.82, a P/E/G ratio of 2.41 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 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company earned $1.50 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. analysts predict that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The business 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 $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.89%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.
Several equities research analysts recently commented on ITW shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $155.00 price target (up previously from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Argus reissued a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. J P Morgan Chase & Co raised Illinois Tool Works from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $132.00 to $140.00 in a research note on Tuesday, October 10th. Finally, Citigroup reissued a “buy” rating and issued a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $164.38.
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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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