Appleton Partners Inc. MA raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,743 shares of the industrial products company’s stock after purchasing an additional 1,415 shares during the period. Appleton Partners Inc. MA’s holdings in Illinois Tool Works were worth $1,459,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in ITW. Cetera Investment Advisers bought a new position in Illinois Tool Works during the second quarter valued at approximately $601,000. Quantbot Technologies LP raised its position in Illinois Tool Works by 71.3% during the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after purchasing an additional 10,457 shares during the period. Ffcm LLC raised its position in Illinois Tool Works by 6.4% during the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after purchasing an additional 714 shares during the period. Parametric Portfolio Associates LLC raised its position in Illinois Tool Works by 100.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after purchasing an additional 707,287 shares during the period. Finally, First Trust Advisors LP raised its position in Illinois Tool Works by 72.8% during the third quarter. First Trust Advisors LP now owns 357,404 shares of the industrial products company’s stock valued at $52,881,000 after purchasing an additional 150,570 shares during the period. 74.73% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on ITW shares. Jefferies Group reiterated 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 & Co set a $190.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. Morgan Stanley raised their price objective 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. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Royal Bank of Canada raised their price objective on Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $168.25.
In other news, EVP Juan Valls sold 48,622 shares of the business’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 transaction of $7,620,526.06. Following the transaction, the executive vice president now directly owns 71,101 shares in the company, valued at approximately $11,143,659.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the business’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 value of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,258 shares of company stock worth $33,653,349. 0.90% of the stock is currently owned by insiders.
Illinois Tool Works Inc. (NYSE ITW) opened at $172.42 on Friday. The firm has a market capitalization of $58,351.46, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.32 and a beta of 1.18. Illinois Tool Works Inc. has a 52 week low of $122.61 and a 52 week high of $172.64. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned $1.50 EPS. Illinois Tool Works’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities research analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
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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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