Schroder Investment Management Group Buys 167,112 Shares of Illinois Tool Works Inc. (ITW)

Schroder Investment Management Group increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 50.1% in the fourth quarter, HoldingsChannel reports. The firm owned 500,745 shares of the industrial products company’s stock after buying an additional 167,112 shares during the quarter. Schroder Investment Management Group’s holdings in Illinois Tool Works were worth $83,550,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Laurel Wealth Advisors Inc. increased its position in Illinois Tool Works by 0.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 10 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its stake in Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock worth $518,000 after buying an additional 13 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares during the last quarter. MML Investors Services LLC boosted its stake in Illinois Tool Works by 0.5% in the 2nd quarter. MML Investors Services LLC now owns 7,043 shares of the industrial products company’s stock worth $1,009,000 after buying an additional 32 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in Illinois Tool Works by 4.3% in the 2nd quarter. National Asset Management Inc. now owns 1,955 shares of the industrial products company’s stock worth $280,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.

ITW has been the topic of a number of research analyst reports. Argus reissued a “buy” rating and issued a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Morgan Stanley raised their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. BMO Capital Markets raised their price target on Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research note on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $166.00 price target on shares of Illinois Tool Works in a research note on Tuesday, December 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $177.18.

Illinois Tool Works Inc. (ITW) opened at $162.55 on Friday. The firm has a market capitalization of $55,518.30, a PE ratio of 33.45, a PEG ratio of 2.09 and a beta of 1.18. Illinois Tool Works Inc. has a 52 week low of $128.03 and a 52 week high of $179.07. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 64.20%.

In other news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the transaction, the insider now directly owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of Illinois Tool Works stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Insiders sold a total of 113,468 shares of company stock worth $19,163,781 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Schroder Investment Management Group Buys 167,112 Shares of Illinois Tool Works Inc. (ITW)” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://stocknewstimes.com/2018/02/18/schroder-investment-management-group-buys-167112-shares-of-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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

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

Latest News

Leave a Reply