HL Financial Services LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,213 shares of the industrial products company’s stock after purchasing an additional 967 shares during the quarter. HL Financial Services LLC’s holdings in Illinois Tool Works were worth $9,501,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the last quarter. Private Vista LLC grew its position in shares of Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares in the last quarter. Harding Loevner LP purchased a new position in shares of Illinois Tool Works in the second quarter valued at $115,000. WFG Advisors LP grew its position in shares of Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in shares of Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.
ITW has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $166.00 target price on shares of Illinois Tool Works in a research report on Tuesday. BMO Capital Markets boosted their target price on Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $160.00 price target on shares of Illinois Tool Works in a research note on Sunday. Wells Fargo & Company set a $190.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Group reaffirmed a “buy” rating and set a $190.00 price target on shares of Illinois Tool Works in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $162.67.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 EPS. equities research analysts anticipate that Illinois Tool Works Inc. will post 6.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.88%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.85%.
In other news, VP Norman D. Jr. Finch purchased 4,986 shares of the stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average cost of $156.34 per share, with a total value of $779,511.24. Following the acquisition, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. Insiders sold a total of 191,324 shares of company stock worth $30,653,014 over the last ninety days. 0.90% of the stock is currently owned by insiders.
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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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