Mawer Investment Management Ltd. Acquires Shares of 2,000 Illinois Tool Works Inc. (NYSE:ITW)

Mawer Investment Management Ltd. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the industrial products company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Illinois Tool Works by 2.3% in the second quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock worth $3,241,417,000 after purchasing an additional 500,583 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Illinois Tool Works by 5.8% in the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock worth $2,927,540,000 after purchasing an additional 1,118,381 shares during the last quarter. FMR LLC grew its holdings in shares of Illinois Tool Works by 13.7% in the second quarter. FMR LLC now owns 3,920,539 shares of the industrial products company’s stock worth $561,618,000 after purchasing an additional 471,369 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Illinois Tool Works by 2,939.8% in the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after purchasing an additional 3,628,722 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after purchasing an additional 203,294 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.

Illinois Tool Works Inc. (ITW) traded down $1.20 during midday trading on Wednesday, reaching $165.02. The company had a trading volume of 1,118,400 shares, compared to its average volume of 1,207,981. The stock has a market cap of $56,946.80, a PE ratio of 26.38, a PEG ratio of 2.48 and a beta of 1.18. Illinois Tool Works Inc. has a one year low of $120.06 and a one year high of $169.69. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. sell-side analysts predict that Illinois Tool Works Inc. will post 6.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders 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 dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.

A number of brokerages recently commented on ITW. Argus reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Citigroup reissued a “buy” rating and set a $171.00 price objective (up previously from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. Morgan Stanley lifted their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $162.67.

In related news, VP Norman D. Jr. Finch acquired 4,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the purchase, the vice president now directly owns 4,371 shares of the company’s stock, valued at approximately $683,362.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction dated 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 sale, the insider now owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The disclosure for this sale can be found here. Insiders have sold a total of 126,506 shares of company stock worth $19,801,832 in the last three months. Corporate insiders own 0.90% of the company’s stock.

WARNING: This news story was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://stocknewstimes.com/2017/12/06/mawer-investment-management-ltd-invests-296000-in-illinois-tool-works-inc-itw.html.

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.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply