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%.
COPYRIGHT VIOLATION WARNING: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/19/smith-moore-co-has-2-74-million-position-in-illinois-tool-works-inc-itw.html.
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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.