Thrivent Financial for Lutherans raised its position in shares of Illinois Tool Works (NYSE:ITW) by 310.7% in the first quarter, Holdings Channel reports. The fund owned 51,487 shares of the industrial products company’s stock after acquiring an additional 38,950 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Illinois Tool Works were worth $8,066,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ITW. Schwab Charles Investment Management Inc. raised its holdings in shares of Illinois Tool Works by 3.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,126,515 shares of the industrial products company’s stock valued at $187,960,000 after acquiring an additional 38,844 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Illinois Tool Works by 5,478.4% in the fourth quarter. Acadian Asset Management LLC now owns 28,115 shares of the industrial products company’s stock valued at $4,691,000 after purchasing an additional 27,611 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $224,000. CENTRAL TRUST Co increased its holdings in shares of Illinois Tool Works by 6.0% in the fourth quarter. CENTRAL TRUST Co now owns 7,124 shares of the industrial products company’s stock valued at $1,188,000 after purchasing an additional 406 shares during the last quarter. Finally, Spearhead Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $2,713,000. 77.03% of the stock is owned by institutional investors and hedge funds.
ITW has been the subject of several recent research reports. Stifel Nicolaus cut their price target on Illinois Tool Works from $162.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 27th. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $168.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, April 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $170.00 price target on shares of Illinois Tool Works in a report on Wednesday, April 18th. Wells Fargo & Co increased their price target on Illinois Tool Works from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $177.67.
Shares of Illinois Tool Works stock opened at $148.06 on Thursday. The company has a market capitalization of $49.89 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25. Illinois Tool Works has a fifty-two week low of $135.07 and a fifty-two week high of $179.07. The company has a quick ratio of 1.74, a current ratio of 2.20 and a debt-to-equity ratio of 1.65.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 earnings per share. equities research analysts predict that Illinois Tool Works will post 7.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 29th will be given a $0.78 dividend. The ex-dividend date is Thursday, June 28th. This represents a $3.12 annualized dividend and a yield of 2.11%. Illinois Tool Works’s payout ratio is 47.34%.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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