Traders sold shares of Illinois Tool Works Inc. (NYSE:ITW) on strength during trading hours on Monday. $16.09 million flowed into the stock on the tick-up and $35.59 million flowed out of the stock on the tick-down, for a money net flow of $19.50 million out of the stock. Of all companies tracked, Illinois Tool Works had the 0th highest net out-flow for the day. Illinois Tool Works traded up $0.07 for the day and closed at $151.70
ITW has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. BMO Capital Markets reissued a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 20th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada increased their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $152.71.
The firm has a 50 day moving average price of $143.80 and a 200-day moving average price of $141.03. The stock has a market cap of $52.18 billion, a price-to-earnings ratio of 24.53 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post $6.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a dividend of $0.78 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.06%. Illinois Tool Works’s payout ratio is presently 50.49%.
In related news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Curbstone Financial Management Corp raised its holdings in Illinois Tool Works by 96.3% during the third quarter. Curbstone Financial Management Corp now owns 7,970 shares of the industrial products company’s stock worth $1,179,000 after purchasing an additional 3,910 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in Illinois Tool Works in the second quarter worth approximately $6,738,000. Perigon Wealth Management LLC grew its position in Illinois Tool Works by 225.5% in the second quarter. Perigon Wealth Management LLC now owns 9,879 shares of the industrial products company’s stock worth $1,422,000 after buying an additional 6,844 shares during the last quarter. Intl Fcstone Inc. acquired a new position in Illinois Tool Works in the second quarter worth approximately $1,576,000. Finally, Griffin Asset Management Inc. acquired a new position in Illinois Tool Works in the second quarter worth approximately $6,047,000. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
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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