Ontario Teachers Pension Plan Board lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 77,366 shares of the industrial products company’s stock after buying an additional 1,276 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Illinois Tool Works were worth $12,909,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Advisors LLC grew its position in shares of Illinois Tool Works by 988.9% in the 4th quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 623 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $130,000. Harding Loevner LP acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at approximately $115,000. WFG Advisors LP grew its position in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $130,000. Institutional investors and hedge funds own 74.41% of the company’s stock.
In other news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Roland M. Martel sold 64,818 shares of the company’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 value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 113,468 shares of company stock worth $19,163,781. Company insiders own 0.90% of the company’s stock.
Several equities analysts recently issued reports on ITW shares. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. BMO Capital Markets boosted their price objective on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Argus restated a “buy” rating and issued a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Royal Bank of Canada restated a “hold” rating and issued a $166.00 target price on shares of Illinois Tool Works in a research note on Tuesday, December 5th. Finally, Bank of America assumed coverage on Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $177.18.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $162.55 on Tuesday. 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 $55,690.00, a P/E ratio of 23.97, a price-to-earnings-growth 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 announced its quarterly earnings data 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 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 quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. equities research analysts expect that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 46.02%.
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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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