Trading Report: Today, 9,238 Shares of Illinois Tool Works Inc. (ITW) Stock are sold by Michael R. Zimmerman

Today, 9,238 Shares of Illinois Tool Works Inc. (ITW) Stock are sold by Michael R. Zimmerman

Illinois Tool Works Inc. (NYSE:ITW) insider Michael R. Zimmerman sold 9,238 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $123.63, for a total transaction of $1,142,093.94. Following the completion of the sale, the insider now owns 11,016 shares of the company’s stock, valued at approximately $1,361,908.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 124.94 on Friday. The stock has a market capitalization of $43.85 billion, a PE ratio of 22.81 and a beta of 1.06. Illinois Tool Works Inc. has a one year low of $79.15 and a one year high of $125.24. The stock has a 50 day moving average of $117.74 and a 200-day moving average of $113.57.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, October 20th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. Illinois Tool Works had a net margin of 14.68% and a return on equity of 39.18%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, December 28th. Illinois Tool Works’s dividend payout ratio is presently 47.45%.

Several equities analysts have commented on the stock. Deutsche Bank AG restated a “buy” rating and issued a $102.00 price target on shares of Illinois Tool Works in a research note on Thursday, August 25th. Jefferies Group restated a “buy” rating on shares of Illinois Tool Works in a research note on Monday, October 24th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Friday, September 16th. Finally, Goldman Sachs Group Inc. downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price target for the company. in a research note on Monday. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $111.07.

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its stake in Illinois Tool Works by 0.4% in the third quarter. Northern Trust Corp now owns 34,111,354 shares of the company’s stock worth $4,087,905,000 after buying an additional 121,298 shares during the last quarter. Vanguard Group Inc. raised its stake in Illinois Tool Works by 1.4% in the second quarter. Vanguard Group Inc. now owns 21,049,488 shares of the company’s stock worth $2,192,515,000 after buying an additional 287,704 shares during the last quarter. Wells Fargo & Company MN raised its stake in Illinois Tool Works by 2.1% in the third quarter. Wells Fargo & Company MN now owns 8,220,678 shares of the company’s stock worth $985,166,000 after buying an additional 170,277 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Illinois Tool Works by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,507,512 shares of the company’s stock worth $677,823,000 after buying an additional 207,550 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Illinois Tool Works by 2.3% in the third quarter. BlackRock Fund Advisors now owns 3,742,998 shares of the company’s stock worth $448,561,000 after buying an additional 84,841 shares during the last quarter. 75.34% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

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