Asset Dedication LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,037 shares of the industrial products company’s stock after buying an additional 146 shares during the quarter. Asset Dedication LLC’s holdings in Illinois Tool Works were worth $1,469,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Illinois Tool Works by 6.6% in the fourth quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company’s stock worth $5,316,074,000 after buying an additional 1,340,520 shares in the last quarter. State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.6% in the fourth quarter. State Street Corp now owns 13,032,994 shares of the industrial products company’s stock worth $3,232,221,000 after buying an additional 210,839 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,576,460 shares of the industrial products company’s stock worth $1,376,270,000 after buying an additional 48,388 shares in the last quarter. Geode Capital Management LLC raised its stake in Illinois Tool Works by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company’s stock valued at $1,242,988,000 after purchasing an additional 104,469 shares in the last quarter. Finally, Norges Bank purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $744,840,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ITW opened at $182.89 on Friday. The stock has a market cap of $56.96 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The firm’s fifty day simple moving average is $198.36 and its 200 day simple moving average is $214.17. Illinois Tool Works Inc. has a twelve month low of $177.33 and a twelve month high of $249.81. The company has a quick ratio of 1.24, a current ratio of 1.73 and a debt-to-equity ratio of 1.90.
Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.04. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.11 earnings per share. On average, analysts expect that Illinois Tool Works Inc. will post 9.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.34%.
A number of brokerages recently weighed in on ITW. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating on the stock in a research note on Monday, April 18th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $262.00 to $255.00 in a research note on Monday, March 28th. Morgan Stanley lowered their target price on shares of Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 31st. UBS Group lowered their target price on shares of Illinois Tool Works to $243.00 and set a “na” rating on the stock in a research note on Wednesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $227.09.
In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total transaction of $205,340.00. Following the completion of the transaction, the executive vice president now owns 7,803 shares of the company’s stock, valued at $1,602,268.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.
Illinois Tool Works Company Profile (Get Rating)
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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