Everence Capital Management Inc. acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, HoldingsChannel reports. The firm acquired 16,919 shares of the industrial products company’s stock, valued at approximately $3,748,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Wolff Wiese Magana LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Diversified LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $27,000. MPS Loria Financial Planners LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. Exchange Traded Concepts LLC increased its stake in Illinois Tool Works by 259.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 176 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Finally, Retirement Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $37,000. Institutional investors own 77.44% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $96.00 to $206.00 and gave the stock a “hold” rating in a research note on Monday, February 8th. Barclays boosted their price target on shares of Illinois Tool Works from $207.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group upgraded shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $211.00 to $232.00 in a research note on Monday, January 4th. The Goldman Sachs Group upgraded shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $195.00 to $217.00 in a research note on Tuesday, January 19th. Finally, Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $204.41.
Shares of NYSE:ITW traded down $1.83 during trading on Thursday, reaching $218.12. The stock had a trading volume of 33,376 shares, compared to its average volume of 1,133,616. The business has a fifty day moving average price of $213.43 and a 200-day moving average price of $205.68. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. The stock has a market cap of $69.03 billion, a P/E ratio of 33.11, a PEG ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a fifty-two week low of $148.27 and a fifty-two week high of $228.77.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.79 by $0.23. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $1.87 earnings per share. Illinois Tool Works’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 6.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 58.84%.
In related news, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the company’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total transaction of $252,810.47. Following the transaction, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.
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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