M Holdings Securities Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,230 shares of the industrial products company’s stock after acquiring an additional 826 shares during the period. M Holdings Securities Inc.’s holdings in Illinois Tool Works were worth $834,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its stake in Illinois Tool Works by 0.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 111,744 shares of the industrial products company’s stock valued at $16,537,000 after acquiring an additional 1,011 shares in the last quarter. Victory Capital Management Inc. grew its stake in Illinois Tool Works by 6.0% during the third quarter. Victory Capital Management Inc. now owns 24,131 shares of the industrial products company’s stock valued at $3,570,000 after acquiring an additional 1,357 shares in the last quarter. Syntal Capital Partners LLC grew its stake in Illinois Tool Works by 14.7% during the third quarter. Syntal Capital Partners LLC now owns 4,271 shares of the industrial products company’s stock valued at $635,000 after acquiring an additional 548 shares in the last quarter. Csenge Advisory Group purchased a new position in Illinois Tool Works during the third quarter valued at $256,000. Finally, State Board of Administration of Florida Retirement System grew its stake in Illinois Tool Works by 0.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 425,056 shares of the industrial products company’s stock valued at $62,891,000 after acquiring an additional 3,960 shares in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $170.18 on Friday. Illinois Tool Works Inc. has a twelve month low of $129.17 and a twelve month high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The company has a market cap of $57,837.34, a PE ratio of 35.02, a PEG ratio of 2.18 and a beta of 1.21.
Illinois Tool Works (NYSE:ITW) last issued 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 net margin of 11.79% and a return on equity of 48.42%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts expect that Illinois Tool Works Inc. will post 7.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s payout ratio is currently 64.20%.
In other news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the transaction, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.
A number of equities analysts have commented on ITW shares. Citigroup lifted their price objective on shares of Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Bank of America started coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Jefferies Group reissued a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, November 29th. One equities research 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. The company presently has a consensus rating of “Hold” and an average target price of $177.18.
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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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