M&R Capital Management Inc. trimmed its holdings in Illinois Tool Works Inc. (NYSE: ITW – Get Rating) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 218 shares of the industrial products company stock after selling 107 shares during the period. M&R Capital Management Inc.’s holdings in Illinois Tool Works were worth $ 45,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of 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 during the period. State Street Corp boosted its position in shares of Illinois Tool Works by 1.6% during the fourth quarter. State Street Corp now owns 13,032,994 shares of the industrial products company stock worth $ 3,232,221,000 after buying an additional 210,839 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 worth $ 1,376,270,000 after buying an additional 48,388 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company stock worth $ 1,242,988,000 after buying an additional 104,469 shares during the period. Finally, Norges Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $ 744,840,000. 79.03% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Illinois Tool Works from $ 187.00 to $ 182.00 and set an “underweight” rating for the company in a research report on Tuesday, May 31st. StockNews.com began coverage on Illinois Tool Works in a research report on Thursday, March 31st. They set a “hold” rating for the company. Barclays reduced their price target on Illinois Tool Works from $ 192.00 to $ 180.00 and set an “underweight” rating for the company in a research report on Tuesday, May 24th. UBS Group reduced their price target on Illinois Tool Works to $ 243.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Finally, JPMorgan Chase & Co. raised Illinois Tool Works from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $ 262.00 to $ 255.00 in a research report on Monday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $ 230.55.
In related news, EVP Lei Zhang Schlitz sold 1,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 7,803 shares of the company stock, valued at $ 1,602,268.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.78% of the company stock.
Shares of NYSE ITW opened at $ 178.25 on Friday. The firm has a market cap of $ 55.51 billion, a P / E ratio of 20.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1-year low of $ 177.33 and a 1-year high of $ 249.81. The business’s 50 day moving average is $ 202.07 and its 200-day moving average is $ 218.23.
Illinois Tool Works (NYSE: ITW – Get Rating) last announced its earnings results on Tuesday, May 3rd. The industrial products company reported $ 2.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $ 2.11 earnings per share. Analysts forecast that Illinois Tool Works Inc. will post 9.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th will be paid 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 dividend yield of 2.74%. Illinois Tool Works’s dividend payout ratio (DPR) 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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