M Holdings Securities Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,230 shares of the industrial products company’s stock after purchasing an additional 826 shares during the period. M Holdings Securities Inc.’s holdings in Illinois Tool Works were worth $834,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at $311,000. LPL Financial LLC lifted its position in Illinois Tool Works by 9.1% in the fourth quarter. LPL Financial LLC now owns 42,639 shares of the industrial products company’s stock valued at $7,114,000 after acquiring an additional 3,560 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Illinois Tool Works by 110.5% in the fourth quarter. Millennium Management LLC now owns 48,249 shares of the industrial products company’s stock valued at $8,050,000 after buying an additional 25,328 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $209,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Illinois Tool Works by 9.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,158 shares of the industrial products company’s stock valued at $4,697,000 after buying an additional 2,509 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of 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. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. BMO Capital Markets downgraded shares of Illinois Tool Works from an “outperform” rating to a “market perform” rating and set a $180.00 price target on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Seaport Global Securities reissued a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $177.18.
ITW stock traded down $6.12 during mid-day trading on Friday, hitting $152.60. 1,514,755 shares of the company were exchanged, compared to its average volume of 1,580,183. The firm has a market cap of $54,210.13, a P/E ratio of 23.16, a P/E/G ratio of 2.04 and a beta of 1.24. 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 Inc. has a twelve month low of $130.17 and a twelve month high of $179.07.
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 for the quarter, topping the Thomson Reuters’ 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 last year, the business earned $1.39 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts expect that Illinois Tool Works Inc. will post 7.71 EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.04%. Illinois Tool Works’s payout ratio is currently 47.34%.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed 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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