Nichols & Pratt Advisers LLP MA lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,799 shares of the industrial products company’s stock after selling 400 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Illinois Tool Works were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. CX Institutional bought a new stake in Illinois Tool Works in the 2nd quarter worth about $101,000. Kaizen Advisory LLC increased its holdings in Illinois Tool Works by 151.0% in the 2nd quarter. Kaizen Advisory LLC now owns 748 shares of the industrial products company’s stock worth $104,000 after buying an additional 450 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Illinois Tool Works by 220.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after buying an additional 548 shares in the last quarter. Sun Life Financial INC increased its holdings in Illinois Tool Works by 277.2% in the 2nd quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after buying an additional 607 shares in the last quarter. Finally, Fort L.P. bought a new stake in Illinois Tool Works in the 2nd quarter worth about $117,000. 76.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on ITW shares. ValuEngine downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Credit Suisse Group cut their price target on Illinois Tool Works from $146.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their price target for the company from $170.00 to $132.00 in a research note on Thursday, October 25th. Finally, Wells Fargo & Co set a $145.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $150.18.
Shares of NYSE:ITW opened at $131.70 on Wednesday. The company has a market cap of $43.83 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.74 and a beta of 1.26. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. Illinois Tool Works Inc. has a 12-month low of $119.38 and a 12-month high of $179.07.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Monday, December 31st will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.04%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 60.70%.
Illinois Tool Works declared that its Board of Directors has initiated a share buyback plan on Friday, August 3rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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Illinois Tool Works 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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