Smith Moore & CO. Has $2.74 Million Position in Illinois Tool Works Inc. (ITW)

Smith Moore & CO. lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,438 shares of the industrial products company’s stock after purchasing an additional 606 shares during the quarter. Smith Moore & CO.’s holdings in Illinois Tool Works were worth $2,743,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ITW. Cetera Investment Advisers acquired a new position in Illinois Tool Works during the second quarter worth $601,000. Quantbot Technologies LP raised its holdings in Illinois Tool Works by 71.3% during the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock worth $3,600,000 after purchasing an additional 10,457 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Illinois Tool Works by 100.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after purchasing an additional 707,287 shares during the last quarter. First Trust Advisors LP raised its holdings in Illinois Tool Works by 72.8% during the third quarter. First Trust Advisors LP now owns 357,404 shares of the industrial products company’s stock worth $52,881,000 after purchasing an additional 150,570 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Illinois Tool Works by 1.9% during the third quarter. Huntington National Bank now owns 317,131 shares of the industrial products company’s stock worth $46,922,000 after purchasing an additional 5,778 shares during the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

ITW has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating and set 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 Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. Morgan Stanley lifted 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. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Royal Bank of Canada lifted their price objective on 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $177.18.

In related news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 113,468 shares of company stock valued at $19,163,781 over the last quarter. Insiders own 0.90% of the company’s stock.

Illinois Tool Works Inc. (NYSE ITW) opened at $162.55 on Monday. Illinois Tool Works Inc. has a 1-year low of $128.03 and a 1-year high of $179.07. The firm has a market capitalization of $55,518.25, a price-to-earnings ratio of 33.45, a PEG ratio of 2.09 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 released its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. equities research analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 30th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $3.12 annualized dividend and a yield of 1.92%. Illinois Tool Works’s payout ratio is currently 64.20%.

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

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