Traders Sell Shares of Illinois Tool Works Inc. (ITW) on Strength (ITW)

Investors sold shares of Illinois Tool Works Inc. (NYSE:ITW) on strength during trading on Monday. $16.09 million flowed into the stock on the tick-up and $35.59 million flowed out of the stock on the tick-down, for a money net flow of $19.50 million out of the stock. Of all stocks tracked, Illinois Tool Works had the 26th highest net out-flow for the day. Illinois Tool Works traded up $0.07 for the day and closed at $151.70

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Wednesday, July 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $141.00 to $132.00 in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $152.14.

The stock has a market capitalization of $52.21 billion, a PE ratio of 24.55 and a beta of 1.12. The company has a 50-day moving average of $142.89 and a 200-day moving average of $140.66.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.

In related news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ITW. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2 shares in the last quarter. Private Vista LLC boosted its stake in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares during the last quarter. Harding Loevner LP bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $115,000. WFG Advisors LP boosted its stake in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Illinois Tool Works by 88.3% in the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Traders Sell Shares of Illinois Tool Works Inc. (ITW) on Strength (ITW)” was originally reported by BBNS and is the sole property of of BBNS. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://baseballnewssource.com/markets/traders-sell-shares-of-illinois-tool-works-inc-itw-on-strength-itw/1702820.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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Red Sox Waste Little Time in Firing John Farrell
Red Sox Waste Little Time in Firing John Farrell
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Red Sox Beat Houston Sunday to Avoid Elimination
Red Sox Beat Houston Sunday to Avoid Elimination


Leave a Reply

 
© 2006-2017 BBNS.