Nwam LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,741 shares of the industrial products company’s stock, valued at approximately $258,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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. BlackRock Inc. boosted its stake in 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 valued at $2,927,540,000 after buying an additional 1,118,381 shares in the last quarter. FMR LLC boosted its stake 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. Janus Henderson Group PLC boosted its stake in 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 valued at $537,498,000 after buying an additional 3,628,722 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 valued at $408,069,000 after buying an additional 203,294 shares in the last quarter. 75.03% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) opened at $157.92 on Friday. Illinois Tool Works Inc. has a 1 year low of $120.06 and a 1 year high of $159.36. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. The stock has a market capitalization of $53,394.05, a PE ratio of 24.74, a PEG ratio of 2.33 and a beta of 1.16.
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 Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned $1.50 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.98%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.78%.
Several analysts recently weighed in on ITW shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Royal Bank Of Canada raised their price objective on Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $136.00 price objective (down from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $157.27.
COPYRIGHT VIOLATION WARNING: This article was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://ledgergazette.com/2017/11/17/1741-shares-in-illinois-tool-works-inc-itw-acquired-by-nwam-llc.html.
In related news, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. Insiders have sold 126,506 shares of company stock valued at $19,801,832 over the last 90 days. 0.90% of the stock is owned by corporate insiders.
About Illinois Tool Works
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.
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.