Asset Management One Co. Ltd. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,054 shares of the industrial products company’s stock after selling 664 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Illinois Tool Works were worth $24,216,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth about $26,000. CNB Bank increased its holdings in shares of Illinois Tool Works by 723.1% in the second quarter. CNB Bank now owns 214 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 188 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Illinois Tool Works by 51.0% during the third quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock worth $43,000 after buying an additional 80 shares during the period. Orion Capital Management LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth about $43,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Illinois Tool Works during the second quarter worth about $44,000. Institutional investors own 79.83% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ITW shares. Wells Fargo & Company upped their price objective on Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 19th. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $192.00 to $188.00 and set a “hold” rating for the company in a research report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $165.00 to $171.00 in a research report on Wednesday, October 26th. Morgan Stanley increased their price target on Illinois Tool Works from $172.00 to $174.00 and gave the company an “underweight” rating in a research report on Friday, January 6th. Finally, Citigroup increased their price target on Illinois Tool Works from $202.00 to $232.00 and gave the company a “neutral” rating in a research report on Friday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $207.64.
Insider Buying and Selling at Illinois Tool Works
Illinois Tool Works Price Performance
Illinois Tool Works stock opened at $229.35 on Wednesday. The stock’s fifty day moving average price is $224.70 and its two-hundred day moving average price is $208.68. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $247.00. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.41 and a quick ratio of 0.95. The firm has a market cap of $70.45 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.25 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.10. Illinois Tool Works had a return on equity of 80.65% and a net margin of 17.49%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the company earned $2.02 EPS. The company’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works Inc. will post 9.46 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Friday, December 30th were issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, December 29th. Illinois Tool Works’s dividend payout ratio is presently 59.82%.
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.
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