United Capital Management of KS Inc. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,132 shares of the industrial products company’s stock after acquiring an additional 1,435 shares during the quarter. Illinois Tool Works makes up 1.2% of United Capital Management of KS Inc.’s holdings, making the stock its 29th biggest holding. United Capital Management of KS Inc.’s holdings in Illinois Tool Works were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Moody National Bank Trust Division raised its position in shares of Illinois Tool Works by 100.0% during the fourth quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 210 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Illinois Tool Works by 540.9% during the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 622 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Illinois Tool Works by 220.1% during the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 548 shares during the last quarter. Valley National Advisers Inc. grew its stake in Illinois Tool Works by 180.4% during the third quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 563 shares during the period. Finally, Camarda Financial Advisors LLC acquired a new stake in Illinois Tool Works during the third quarter worth approximately $141,000. Institutional investors own 76.41% of the company’s stock.
ITW has been the subject of several recent analyst reports. Seaport Global Securities cut 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 research note on Thursday, October 25th. ValuEngine cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Morgan Stanley cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $131.00 to $115.00 in a research note on Tuesday, December 18th. Credit Suisse Group reaffirmed a “hold” rating and set a $131.00 target price on shares of Illinois Tool Works in a research note on Friday, December 7th. Finally, Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $143.94.
Shares of NYSE:ITW traded up $0.01 during mid-day trading on Thursday, hitting $130.00. 56,863 shares of the company traded hands, compared to its average volume of 1,607,950. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.59 and a beta of 1.22. 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 $117.75 and a 12-month high of $179.07.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. Illinois Tool Works’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 7.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Monday, December 31st will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.08%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 60.70%.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 108,885 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total value of $14,502,393.15. Following the sale, the chief executive officer now directly owns 149,777 shares in the company, valued at $19,948,798.63. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 58,736 shares of the business’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total value of $7,806,601.76. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.
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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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