MML Investors Services LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,302 shares of the industrial products company’s stock after selling 825 shares during the quarter. MML Investors Services LLC’s holdings in Illinois Tool Works were worth $885,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Vaughan David Investments Inc. IL boosted its holdings in shares of Illinois Tool Works by 34,278.6% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock valued at $35,779,000 after acquiring an additional 936,835 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $84,620,000. UBS Asset Management Americas Inc. boosted its holdings in shares of 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 in the last quarter. Telemus Capital LLC boosted its holdings in shares of Illinois Tool Works by 14,337.9% during the 4th quarter. Telemus Capital LLC now owns 296,555 shares of the industrial products company’s stock valued at $49,480,000 after acquiring an additional 294,501 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of 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 in the last quarter. 77.63% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. ValuEngine raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research report on Thursday, January 4th. Credit Suisse Group raised their target price on Illinois Tool Works from $163.00 to $166.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Jefferies Group reaffirmed a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. Finally, BMO Capital Markets raised their target price on Illinois Tool Works from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $177.18.
Shares of ITW opened at $152.60 on Friday. 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 stock has a market capitalization of $53,974.46, a PE ratio of 23.16, a PEG ratio of 2.03 and a beta of 1.24. Illinois Tool Works Inc. has a one year low of $130.17 and a one year high of $179.07.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The company had revenue of $3.63 billion during 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%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. sell-side analysts forecast that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.04%. Illinois Tool Works’s dividend payout ratio is presently 47.34%.
In other news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly 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 accessible through this link. Company insiders own 0.90% of the company’s stock.
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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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