SevenBridge Financial Group LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,880 shares of the industrial products company’s stock after selling 375 shares during the period. SevenBridge Financial Group LLC’s holdings in Illinois Tool Works were worth $314,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Almanack Investment Partners LLC. bought a new stake in Illinois Tool Works in the fourth quarter worth $112,000. Legacy Advisors LLC lifted its stake in Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 623 shares during the last quarter. Santori & Peters Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at about $121,000. Valeo Financial Advisors LLC purchased a new position in shares of Illinois Tool Works in the third quarter valued at about $130,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at about $130,000. 77.62% of the stock is owned by institutional investors and hedge funds.
In related news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 42,497 shares in the company, valued at $7,564,466. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.
ITW stock opened at $167.80 on Wednesday. Illinois Tool Works Inc. has a 52-week low of $129.17 and a 52-week high of $179.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. The stock has a market cap of $57,253.30, a PE ratio of 34.53, a P/E/G ratio of 2.15 and a beta of 1.21.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. Illinois Tool Works’s quarterly revenue was up 6.8% on a year-over-year basis. research analysts forecast that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 30th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 64.20%.
ITW has been the topic of a number of analyst reports. Jefferies Group restated a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, November 29th. Wells Fargo set a $190.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, December 4th. Robert W. Baird restated a “hold” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research report on Sunday, December 3rd. Royal Bank of Canada restated a “hold” rating and issued a $166.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, December 5th. Finally, BMO Capital Markets boosted their price objective on shares of Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $177.18.
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).
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.