Elite Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,049 shares of the industrial products company’s stock, valued at approximately $676,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Omnia Family Wealth LLC boosted its stake in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the last quarter. Hudock Capital Group LLC lifted its position 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 valued at $151,000 after acquiring an additional 5 shares during the period. Laurel Wealth Advisors Inc. lifted its position 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 valued at $521,000 after acquiring an additional 10 shares during the period. Rowland & Co. Investment Counsel ADV lifted its position 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 valued at $518,000 after acquiring an additional 13 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares during the last quarter. 74.63% of the stock is currently owned by hedge funds and other institutional investors.
ITW has been the topic of several research reports. Wells Fargo & Co set a $190.00 price objective on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. Argus restated 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. Jefferies Group restated a “buy” rating and set a $190.00 price objective on shares of Illinois Tool Works in a report on Wednesday, November 29th. Bank of America assumed coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $177.18.
In related news, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the completion of the sale, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,468 shares of company stock worth $19,163,781. Insiders own 0.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE ITW) traded down $0.10 during trading hours on Wednesday, reaching $161.75. 101,704 shares of the company’s stock were exchanged, compared to its average volume of 1,469,500. Illinois Tool Works Inc. has a 12-month low of $128.03 and a 12-month high of $179.07. The company has a market capitalization of $55,450.00, a price-to-earnings ratio of 33.18, a PEG ratio of 2.07 and a beta of 1.18. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts expect that Illinois Tool Works Inc. will post 7.71 EPS for the current year.
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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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