Wealthcare Advisory Partners LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,206 shares of the industrial products company’s stock, valued at approximately $918,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Private Vista LLC grew its holdings in shares of Illinois Tool Works by 13,697.3% in the 2nd 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 during the period. Harding Loevner LP acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth approximately $115,000. WFG Advisors LP grew its holdings in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of 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 acquiring an additional 17 shares during the period. Institutional investors own 74.83% of the company’s stock.
In other Illinois Tool Works news, insider Roland M. Martel sold 64,818 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the transaction, the insider now owns 26,222 shares of the company’s stock, valued at approximately $4,389,825.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,324 shares of company stock worth $35,645,914. 0.90% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on ITW shares. Stifel Nicolaus restated a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. Jefferies Group restated a “buy” rating and issued a $190.00 price target on shares of Illinois Tool Works in a report on Wednesday, November 29th. Wells Fargo & Company set a $190.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Morgan Stanley upped their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $164.38.
Shares of Illinois Tool Works Inc. (NYSE ITW) traded down $1.15 during trading hours on Wednesday, reaching $163.88. The company’s stock had a trading volume of 1,481,200 shares, compared to its average volume of 1,209,300. The firm has a market cap of $56,539.11, a PE ratio of 26.19, a PEG ratio of 2.47 and a beta of 1.18. 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 Inc. has a 52-week low of $120.06 and a 52-week high of $169.69.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating 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%. Illinois Tool Works’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS. equities analysts anticipate that Illinois Tool Works Inc. will post 6.67 EPS for the current year.
The business also recently announced 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 yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.
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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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