IFM Investors Pty Ltd grew its holdings in shares of Illinois Tool Works Inc. (NYSE: ITW – Get Rating) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,217 shares of the industrial products company stock after purchasing an additional 7,214 shares during the period. IFM Investors Pty Ltd’s holdings in Illinois Tool Works were worth $ 10,306,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITW. BlackRock Inc. boosted its holdings in Illinois Tool Works by 6.6% during the fourth quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company stock worth $ 5,316,074,000 after buying an additional 1,340,520 shares in the last quarter. State Street Corp grew its holdings in shares of Illinois Tool Works by 1.6% in the 4th quarter. State Street Corp now owns 13,032,994 shares of the industrial products company stock worth $ 3,232,221,000 after acquiring an additional 210,839 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,576,460 shares of the industrial products company stock valued at $ 1,376,270,000 after purchasing an additional 48,388 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company stock valued at $ 1,242,988,000 after purchasing an additional 104,469 shares during the period. Finally, Norges Bank purchased a new position in Illinois Tool Works in the 4th quarter worth about $ 744,840,000. Institutional investors and hedge funds own 79.03% of the company stock.
In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $ 205.34, for a total value of $ 205,340.00. Following the completion of the year, the executive vice president now directly owns 7,803 shares in the company, valued at $ 1,602,268.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.78% of the company stock.
ITW has been the topic of several analyst reports. UBS Group dropped their target price on shares of Illinois Tool Works to $ 243.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and cut their target price for the company from $ 262.00 to $ 255.00 in a research note on Monday, March 28th. Barclays lowered their price target on Illinois Tool Works from $ 192.00 to $ 180.00 and set an “underweight” rating on the stock in a report on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Illinois Tool Works from $ 236.00 to $ 226.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Finally, StockNews.com assumed coverage on Illinois Tool Works in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $ 230.55.
NYSE ITW opened at $ 187.92 on Monday. The company has a 50 day moving average price of $ 200.39 and a two-hundred day moving average price of $ 216.08. Illinois Tool Works Inc. has a 12-month low of $ 177.33 and a 12-month high of $ 249.81. The stock has a market capitalization of $ 58.53 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. 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 posted its 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 company had revenue of $ 3.94 billion for the quarter, compared to analyst estimates of $ 3.76 billion. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $ 2.11 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 9.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th will be given a dividend of $ 1.22 per share. The ex-dividend date is Wednesday, June 29th. This represents a $ 4.88 dividend on an annualized basis and a yield of 2.60%. Illinois Tool Works’s payout ratio is currently 57.34%.
About Illinois Tool Works: (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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