Columbia Partners L L C Investment Management boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 43.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,456 shares of the industrial products company’s stock after acquiring an additional 7,116 shares during the period. Columbia Partners L L C Investment Management’s holdings in Illinois Tool Works were worth $3,913,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Advisors LLC increased its stake in Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 623 shares during the period. Santori & Peters Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at about $121,000. Jackson Grant Investment Advisers Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at about $130,000. WFG Advisors LP increased its stake in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in Illinois Tool Works during the third quarter valued at about $130,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.
Several equities analysts recently issued reports on the company. Citigroup boosted their price target on Illinois Tool Works from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Bank of America started coverage on Illinois Tool Works in a research note on Monday, December 11th. They set a “buy” rating and a $190.00 price target on the stock. BMO Capital Markets lifted their price objective on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $160.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $177.18.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $163.32 on Friday. The firm has a market capitalization of $55,077.66, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. Illinois Tool Works Inc. has a 1-year low of $129.17 and a 1-year high of $179.07.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. Illinois Tool Works’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. equities research analysts predict that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s payout ratio is currently 64.20%.
In other news, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was 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 hyperlink. Also, insider Roland M. Martel sold 64,818 shares of the business’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 completion of the transaction, the insider now directly owns 26,222 shares in the company, valued at $4,389,825.02. 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 three months. 0.90% of the stock is owned by company insiders.
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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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