Illinois Tool Works Inc. (ITW) Shares Bought by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 35.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,247,440 shares of the industrial products company’s stock after buying an additional 329,115 shares during the period. UBS Asset Management Americas Inc.’s holdings in Illinois Tool Works were worth $208,135,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Laurel Wealth Advisors Inc. increased its holdings in shares of Illinois Tool Works by 0.3% during the second quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after buying an additional 10 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its holdings in Illinois Tool Works by 0.4% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 13 shares during the period. Salem Investment Counselors Inc. increased its holdings in Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. MML Investors Services LLC increased its holdings in Illinois Tool Works by 0.5% in the second quarter. MML Investors Services LLC now owns 7,043 shares of the industrial products company’s stock valued at $1,009,000 after purchasing an additional 32 shares during the period. Finally, National Asset Management Inc. increased its holdings in Illinois Tool Works by 4.3% in the second quarter. National Asset Management Inc. now owns 1,955 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 81 shares during the period. Institutional investors own 74.63% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $162.55 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63. The company has a market cap of $55,518.30, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18. Illinois Tool Works Inc. has a 1 year low of $128.03 and a 1 year high of $179.07.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. equities research analysts expect that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.

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

A number of analysts recently weighed in on ITW shares. Jefferies Group restated a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a report on Wednesday, November 29th. Wells Fargo & Co set a $190.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a report on Monday, December 4th. Morgan Stanley increased their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the company 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 increased their price objective on Illinois Tool Works from $143.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $177.18.

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

WARNING: “Illinois Tool Works Inc. (ITW) Shares Bought by UBS Asset Management Americas Inc.” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another site, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2018/02/18/illinois-tool-works-inc-itw-shares-bought-by-ubs-asset-management-americas-inc.html.

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.

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.

Leave a Reply