Hyman Charles D held its position in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel reports. The firm owned 17,350 shares of the company’s stock at the end of the third quarter. Hyman Charles D’s holdings in Illinois Tool Works were worth $2,079,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Archford Capital Strategies LLC boosted its position in shares of Illinois Tool Works by 1,008.5% in the second quarter. Archford Capital Strategies LLC now owns 1,175 shares of the company’s stock worth $122,000 after buying an additional 1,069 shares during the period. Acropolis Investment Management LLC bought a new position in shares of Illinois Tool Works during the second quarter worth approximately $128,000. Farmers National Bank bought a new position in shares of Illinois Tool Works during the second quarter worth approximately $129,000. Finally, Taylor Wealth Management Partners boosted its position in shares of Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock worth $129,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 75.34% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.66% on Friday, reaching $125.77. The company had a trading volume of 464,967 shares. The firm has a market capitalization of $44.15 billion, a PE ratio of 22.96 and a beta of 1.06. The firm’s 50 day moving average is $117.74 and its 200 day moving average is $113.57. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $125.77.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The company earned $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. On average, equities research analysts expect that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Investors of record on Friday, December 30th will be given a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.60 annualized dividend and a yield of 2.07%. Illinois Tool Works’s payout ratio is 47.45%.
A number of equities analysts have recently commented on ITW shares. Deutsche Bank AG reiterated a “buy” rating and issued a $102.00 target price on shares of Illinois Tool Works in a report on Thursday, August 25th. Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a report on Monday, October 24th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Friday, September 16th. Finally, Goldman Sachs Group Inc. cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 target price for the company. in a report 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 assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $111.07.
In related news, insider Sundaram Nagarajan sold 34,299 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $122.62, for a total value of $4,205,743.38. Following the completion of the transaction, the insider now directly owns 54,516 shares in the company, valued at $6,684,751.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay L. Henderson acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, October 25th. The stock was acquired at an average price of $111.94 per share, with a total value of $447,760.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $447,760. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.