Whitnell & Co. Buys 8,101 Shares of Illinois Tool Works Inc. (NYSE:ITW)

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Whitnell & Co. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 39.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 28,497 shares of the industrial products company’s stock after acquiring an additional 8,101 shares during the quarter. Illinois Tool Works makes up approximately 1.5% of Whitnell & Co.’s holdings, making the stock its 20th biggest holding. Whitnell & Co.’s holdings in Illinois Tool Works were worth $4,459,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN raised its stake in Illinois Tool Works by 8.0% during the 3rd quarter. Delta Asset Management LLC TN now owns 809 shares of the industrial products company’s stock worth $127,000 after buying an additional 60 shares during the period. Blue Chip Partners Inc. increased its holdings in Illinois Tool Works by 1.6% during the 3rd quarter. Blue Chip Partners Inc. now owns 3,812 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 61 shares in the last quarter. Gables Capital Management Inc. increased its holdings in Illinois Tool Works by 3.4% during the 3rd quarter. Gables Capital Management Inc. now owns 1,858 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 61 shares in the last quarter. Allworth Financial LP increased its holdings in Illinois Tool Works by 25.1% during the 3rd quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 70 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV increased its holdings in Illinois Tool Works by 3.8% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 2,014 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

In related news, EVP Michael R. Zimmerman sold 6,600 shares of Illinois Tool Works stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $172.43, for a total transaction of $1,138,038.00. Following the completion of the transaction, the executive vice president now owns 13,590 shares in the company, valued at $2,343,323.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of Illinois Tool Works stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.69, for a total value of $6,404,208.69. Following the transaction, the insider now owns 65,674 shares of the company’s stock, valued at approximately $11,275,569.06. The disclosure for this sale can be found here. Insiders have sold 346,180 shares of company stock valued at $57,725,646 in the last quarter. 0.87% of the stock is currently owned by corporate insiders.

Shares of NYSE ITW traded down $0.10 during mid-day trading on Friday, hitting $176.41. The company had a trading volume of 995,797 shares, compared to its average volume of 1,318,047. The company has a market capitalization of $56.63 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.99 and a beta of 1.22. The firm has a 50-day simple moving average of $160.07 and a two-hundred day simple moving average of $153.13. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 2.57. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $179.29.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.10. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. Illinois Tool Works’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, December 30th. Illinois Tool Works’s payout ratio is currently 56.32%.

ITW has been the subject of a number of research reports. Argus set a $180.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a report on Friday, October 25th. Seaport Global Securities reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, October 28th. UBS Group raised their price objective on Illinois Tool Works from $154.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Credit Suisse Group raised their price objective on Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Goldman Sachs Group cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price objective for the company. in a report on Monday, September 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $150.57.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

See Also: Dow Jones Industrial Average (DJIA)

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)

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