Ariel Investments LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 673,358 shares of the industrial products company’s stock after selling 80,971 shares during the period. Ariel Investments LLC’s holdings in Illinois Tool Works were worth $89,200,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. FCM Investments TX acquired a new position in Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC boosted its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares during the last quarter. Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares during the last quarter. Finally, Baystate Wealth Management LLC boosted its position in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares during the last quarter. Institutional investors own 75.47% of the company’s stock.
Shares of Illinois Tool Works Inc. (ITW) opened at 147.29 on Friday. The firm has a 50 day moving average price of $145.53 and a 200 day moving average price of $135.52. The stock has a market capitalization of $50.88 billion, a PE ratio of 24.74 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post $6.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were paid a $0.65 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.77%. Illinois Tool Works’s payout ratio is presently 43.70%.
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A number of equities analysts recently issued reports on ITW shares. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Wednesday, March 29th. Jefferies Group LLC restated a “buy” rating and set a $155.00 price objective (up previously from $145.00) on shares of Illinois Tool Works in a report on Tuesday, April 11th. Citigroup Inc. boosted their price objective on Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. BMO Capital Markets restated a “buy” rating and set a $145.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 20th. Finally, Argus boosted their price objective on Illinois Tool Works from $145.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $148.69.
In other news, CEO Ernest Scott Santi sold 101,297 shares of Illinois Tool Works stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total value of $13,982,024.91. Following the completion of the sale, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at $26,383,330.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Zimmerman sold 5,000 shares of Illinois Tool Works stock in a transaction on Monday, April 24th. The shares were sold at an average price of $140.00, for a total value of $700,000.00. Following the completion of the sale, the insider now directly owns 7,626 shares of the company’s stock, valued at $1,067,640. The disclosure for this sale can be found here. Insiders sold 220,850 shares of company stock valued at $30,945,971 over the last ninety days. Insiders own 0.90% of the company’s stock.
Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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