B. Riley Financial Inc. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,567 shares of the industrial products company’s stock, valued at approximately $528,000.
Several other institutional investors have also made changes to their positions in ITW. Omnia Family Wealth LLC raised its stake 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 valued at $107,000 after purchasing an additional 2 shares in the last quarter. Private Vista LLC raised its stake in Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares in the last quarter. Harding Loevner LP acquired a new position in Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP raised its stake in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. 74.83% of the stock is owned by institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded down $1.20 during trading on Wednesday, hitting $165.02. The company’s stock had a trading volume of 1,118,400 shares, compared to its average volume of 1,207,981. The company has a market cap of $56,946.80, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $169.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) 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 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 EPS. sell-side analysts expect that Illinois Tool Works Inc. will post 6.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be issued 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 is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
In other news, insider Steven L. Martindale sold 64,818 shares of the company’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 transaction, the insider now directly owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Norman D. Jr. Finch bought 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, for a total transaction of $779,511.24. Following the completion of the transaction, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The disclosure for this purchase can be found here. Insiders have sold a total of 126,506 shares of company stock worth $19,801,832 over the last 90 days. Company insiders own 0.90% of the company’s stock.
ITW has been the subject of several research analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Jefferies Group reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, November 29th. Wells Fargo & Company set a $190.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research note on Monday. BidaskClub downgraded Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Finally, Morgan Stanley upped their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $162.67.
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.
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