Metropolitan Life Insurance Co. NY reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 62.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,772 shares of the industrial products company’s stock after selling 99,054 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Illinois Tool Works were worth $10,140,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ITW. Vaughan David Investments Inc. IL grew its position in shares of Illinois Tool Works by 34,278.6% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock worth $35,779,000 after buying an additional 936,835 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $84,620,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Illinois Tool Works by 35.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,247,440 shares of the industrial products company’s stock valued at $208,135,000 after purchasing an additional 329,115 shares in the last quarter. Telemus Capital LLC lifted its holdings in shares of Illinois Tool Works by 14,337.9% during the 4th quarter. Telemus Capital LLC now owns 296,555 shares of the industrial products company’s stock valued at $49,480,000 after purchasing an additional 294,501 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Illinois Tool Works by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,964,715 shares of the industrial products company’s stock valued at $586,616,000 after purchasing an additional 212,560 shares in the last quarter. Institutional investors own 77.65% of the company’s stock.
ITW has been the topic of several recent analyst reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a report on Friday, January 12th. Bank of America initiated coverage on Illinois Tool Works in a report on Monday, December 11th. They set a “buy” rating and a $190.00 price objective on the stock. Wells Fargo set a $190.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a report on Monday, December 4th. Jefferies Group reiterated a “buy” rating and set a $190.00 price objective on shares of Illinois Tool Works in a report on Wednesday, November 29th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $177.18.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $170.96 on Friday. The company has a market capitalization of $58,124.24, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 12 month low of $129.17 and a 12 month high of $179.07.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 EPS. equities research analysts expect that Illinois Tool Works Inc. will post 7.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.82%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s payout ratio is 64.20%.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the sale, the insider now owns 42,497 shares in the company, valued at approximately $7,564,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://ledgergazette.com/2018/03/17/metropolitan-life-insurance-co-ny-has-10-14-million-stake-in-illinois-tool-works-inc-itw.html.
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.
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.