NN Investment Partners Holdings N.V. lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 57,625 shares of the industrial products company’s stock after selling 632 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Illinois Tool Works were worth $8,132,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. North Star Investment Management Corp. raised its position in shares of Illinois Tool Works by 6.3% in the second quarter. North Star Investment Management Corp. now owns 6,085 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 362 shares during the period. Signaturefd LLC increased its holdings in Illinois Tool Works by 17.0% during the 2nd quarter. Signaturefd LLC now owns 2,564 shares of the industrial products company’s stock worth $355,000 after acquiring an additional 372 shares during the period. Sky Investment Group LLC increased its holdings in Illinois Tool Works by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 45,259 shares of the industrial products company’s stock worth $6,270,000 after acquiring an additional 385 shares during the period. Fisher Asset Management LLC increased its holdings in Illinois Tool Works by 12.2% during the 2nd quarter. Fisher Asset Management LLC now owns 3,635 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 395 shares during the period. Finally, Woodstock Corp increased its holdings in Illinois Tool Works by 0.8% during the 2nd quarter. Woodstock Corp now owns 48,433 shares of the industrial products company’s stock worth $6,710,000 after acquiring an additional 400 shares during the period. 76.24% of the stock is currently owned by institutional investors.
ITW stock opened at $129.47 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works Inc. has a one year low of $119.38 and a one year high of $179.07. The company has a market capitalization of $43.50 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.72 and a beta of 1.22.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 7.6 earnings per share for the current fiscal year.
Illinois Tool Works declared that its board has approved a share buyback program on Friday, August 3rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.09%. Illinois Tool Works’s dividend payout ratio is presently 60.70%.
ITW has been the topic of a number of analyst reports. ValuEngine lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Credit Suisse Group decreased their target price on shares of Illinois Tool Works from $146.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Seaport Global Securities lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $132.00 in a report on Thursday, October 25th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $160.00 target price (down previously from $170.00) on shares of Illinois Tool Works in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $150.18.
Illinois Tool Works Company Profile
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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