Fiduciary Trust Co. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,789 shares of the industrial products company’s stock after buying an additional 829 shares during the quarter. Fiduciary Trust Co.’s holdings in Illinois Tool Works were worth $20,535,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ITW. Oregon Public Employees Retirement Fund raised its stake in Illinois Tool Works by 1.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 132,577 shares of the industrial products company’s stock worth $19,616,000 after acquiring an additional 2,327 shares in the last quarter. Boston Partners grew its position in Illinois Tool Works by 2.9% during the 3rd quarter. Boston Partners now owns 202,730 shares of the industrial products company’s stock worth $29,996,000 after purchasing an additional 5,802 shares during the last quarter. Smith Moore & CO. boosted its holdings in shares of Illinois Tool Works by 13.9% in the third quarter. Smith Moore & CO. now owns 15,832 shares of the industrial products company’s stock valued at $2,342,000 after acquiring an additional 1,932 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Illinois Tool Works by 7.5% in the third quarter. Cullen Frost Bankers Inc. now owns 12,547 shares of the industrial products company’s stock valued at $1,856,000 after acquiring an additional 873 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Illinois Tool Works in the third quarter valued at about $1,480,000. Institutional investors own 75.03% of the company’s stock.
Illinois Tool Works Inc. (ITW) opened at $157.14 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. The stock has a market cap of $53,836.01, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $159.36.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. equities analysts expect that Illinois Tool Works Inc. will post 6.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is currently 47.78%.
In other news, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is currently owned by company insiders.
ITW has been the topic of several analyst reports. Argus reaffirmed a “buy” rating and issued a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Tuesday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $171.00 target price (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley lifted their target price on shares of Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company set a $170.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $157.27.
Illinois Tool Works 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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