HBK Sorce Advisory LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 235.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,645 shares of the industrial products company’s stock after buying an additional 3,262 shares during the period. HBK Sorce Advisory LLC’s holdings in Illinois Tool Works were worth $775,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vaughan David Investments Inc. IL grew its position 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 during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Illinois Tool Works in the 4th quarter worth about $84,620,000. UBS Asset Management Americas Inc. boosted its holdings in Illinois Tool Works by 35.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,247,440 shares of the industrial products company’s stock worth $208,135,000 after buying an additional 329,115 shares during the last quarter. Telemus Capital LLC boosted its holdings in Illinois Tool Works by 14,337.9% in the 4th quarter. Telemus Capital LLC now owns 296,555 shares of the industrial products company’s stock worth $49,480,000 after buying an additional 294,501 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Illinois Tool Works by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,964,715 shares of the industrial products company’s stock worth $586,616,000 after buying an additional 212,560 shares during the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.
NYSE ITW traded down $6.12 on Friday, reaching $152.60. The stock had a trading volume of 1,514,755 shares, compared to its average volume of 1,580,183. The firm has a market cap of $52,119.92, a price-to-earnings ratio of 23.16, a PEG ratio of 1.96 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 Inc. has a 12-month low of $130.17 and a 12-month 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.
The business 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 dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 47.34%.
Several research analysts have recently weighed in on the company. ValuEngine upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Thursday, January 4th. Credit Suisse Group boosted their target price on Illinois Tool Works from $163.00 to $166.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Jefferies Group restated a “buy” rating on shares of Illinois Tool Works in a report on Thursday, January 25th. Finally, BMO Capital Markets boosted their target price on Illinois Tool Works from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. One 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. The stock has a consensus rating of “Hold” and an average price target of $177.18.
In other news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at $7,564,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate 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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