Mcdaniel Terry & Co. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 198,557 shares of the industrial products company’s stock after selling 1,361 shares during the period. Illinois Tool Works comprises 5.9% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 3rd biggest position. Mcdaniel Terry & Co. owned approximately 0.06% of Illinois Tool Works worth $33,129,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the company. Legacy Advisors LLC boosted its holdings in Illinois Tool Works by 988.9% in the 4th quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after buying an additional 623 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in Illinois Tool Works in the 4th quarter worth approximately $130,000. Harding Loevner LP bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $115,000. WFG Advisors LP boosted its holdings in Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after buying an additional 161 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth approximately $130,000. 74.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $163.36 on Friday. Illinois Tool Works Inc. has a 52 week low of $128.03 and a 52 week high of $179.07. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The stock has a market cap of $55,970.00, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities analysts anticipate that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.91%. Illinois Tool Works’s dividend payout ratio is presently 64.33%.
Several research analysts recently commented on ITW shares. Jefferies Group reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a report on Wednesday, November 29th. 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. Morgan Stanley raised their price objective on shares of Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $177.18.
In other news, insider Roland M. Martel sold 64,818 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the sale, the insider now 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 accessible through this link. Also, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction 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 sale, the insider now owns 42,497 shares in the company, valued at approximately $7,564,466. The disclosure for this sale can be found here. Insiders sold a total of 113,468 shares of company stock worth $19,163,781 over the last quarter. Corporate insiders own 0.90% of the company’s stock.
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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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