Bowling Portfolio Management LLC Invests $2.24 Million in Illinois Tool Works Inc. (ITW)

Bowling Portfolio Management LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,447 shares of the industrial products company’s stock, valued at approximately $2,244,000.

Several other large investors have also recently modified their holdings of the company. Omnia Family Wealth LLC grew its stake in shares of 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 acquiring an additional 2 shares during the period. Hudock Capital Group LLC grew its stake in shares of Illinois Tool Works by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 5 shares during the period. Laurel Wealth Advisors Inc. grew its stake in shares of Illinois Tool Works by 0.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after acquiring an additional 10 shares during the period. Rowland & Co. Investment Counsel ADV grew its stake in shares of Illinois Tool Works by 0.4% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock worth $518,000 after acquiring an additional 13 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in shares of 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 acquiring an additional 17 shares during the period. 74.63% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on ITW. Argus reissued a “buy” rating and set a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Morgan Stanley increased their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price objective (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $177.18.

In related news, insider Roland M. Martel sold 64,818 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the transaction, the insider now directly owns 26,222 shares in the company, valued at approximately $4,389,825.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the sale, the insider now owns 42,497 shares in the company, valued at $7,564,466. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,468 shares of company stock worth $19,163,781. 0.90% of the stock is owned by corporate insiders.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up $0.62 during midday trading on Wednesday, hitting $162.47. The company had a trading volume of 1,348,937 shares, compared to its average volume of 1,520,000. The stock has a market cap of $55,660.00, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a current ratio of 2.38, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63. Illinois Tool Works Inc. has a 52 week low of $128.03 and a 52 week high of $179.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm posted $1.39 EPS. Illinois Tool Works’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.

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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.

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

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