Private Advisor Group LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 20.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,410 shares of the industrial products company’s stock after selling 2,479 shares during the period. Private Advisor Group LLC’s holdings in Illinois Tool Works were worth $1,576,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Trustmark National Bank Trust Department increased its stake in Illinois Tool Works by 19.6% in the second quarter. Trustmark National Bank Trust Department now owns 3,198 shares of the industrial products company’s stock valued at $459,000 after acquiring an additional 524 shares during the period. GSA Capital Partners LLP boosted its position in Illinois Tool Works by 198.4% in the second quarter. GSA Capital Partners LLP now owns 11,643 shares of the industrial products company’s stock valued at $1,668,000 after buying an additional 7,741 shares in the last quarter. Segment Wealth Management LLC acquired a new position in Illinois Tool Works in the second quarter valued at about $205,000. Vanguard Group Inc. boosted its position in 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 valued at $3,241,417,000 after buying an additional 500,583 shares in the last quarter. Finally, FMR LLC boosted its position in 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 valued at $561,618,000 after buying an additional 471,369 shares in the last quarter. 74.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Harold B. Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total transaction of $4,992,900.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the transaction, the insider now owns 42,497 shares in the company, valued at $7,564,466. The disclosure for this sale can be found here. Insiders have sold 113,468 shares of company stock worth $19,163,781 over the last quarter. 0.90% of the stock is owned by company insiders.
Illinois Tool Works Inc. (ITW) opened at $162.55 on Friday. Illinois Tool Works Inc. has a 12-month low of $128.03 and a 12-month high of $179.07. The stock has a market cap of $55,518.30, a P/E ratio of 33.45, a PEG ratio of 2.09 and a beta of 1.18. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the business earned $1.39 earnings per share. Illinois Tool Works’s quarterly revenue was up 6.8% on a year-over-year basis. research analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.92%. Illinois Tool Works’s payout ratio is 64.20%.
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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