ETRADE Capital Management LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,437 shares of the industrial products company’s stock, valued at approximately $240,000.
A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC raised its holdings in Illinois Tool Works by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,964,715 shares of the industrial products company’s stock valued at $586,616,000 after acquiring an additional 212,560 shares during the period. Geode Capital Management LLC raised its holdings in Illinois Tool Works by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,345,059 shares of the industrial products company’s stock valued at $556,967,000 after acquiring an additional 90,737 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Illinois Tool Works by 7.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,487,337 shares of the industrial products company’s stock valued at $220,066,000 after acquiring an additional 103,127 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in Illinois Tool Works by 4.6% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,272,210 shares of the industrial products company’s stock valued at $212,268,000 after acquiring an additional 56,099 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in Illinois Tool Works by 35.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,247,440 shares of the industrial products company’s stock valued at $208,135,000 after acquiring an additional 329,115 shares during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ITW opened at $152.60 on Friday. Illinois Tool Works Inc. has a 52-week low of $130.17 and a 52-week high of $179.07. The firm has a market capitalization of $53,974.46, a P/E ratio of 23.16, a P/E/G ratio of 2.03 and a beta of 1.24. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts predict that Illinois Tool Works Inc. will post 7.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 30th will be given a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.12 annualized dividend and a yield of 2.04%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.34%.
In related news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on ITW shares. Bank of America assumed coverage on shares of Illinois Tool Works in a report on Monday, December 11th. They set a “buy” rating and a $190.00 target price on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BMO Capital Markets lowered shares of Illinois Tool Works from an “outperform” rating to a “market perform” rating and set a $180.00 price target for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, Seaport Global Securities restated a “buy” rating and set a $200.00 price target on shares of Illinois Tool Works in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus 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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