Amica Pension Fund Board of Trustees maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel reports. The fund owned 22,793 shares of the company’s stock at the end of the third quarter. Amica Pension Fund Board of Trustees’ holdings in Illinois Tool Works were worth $2,732,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in Illinois Tool Works by 68.3% in the second quarter. Ameriprise Financial Inc. now owns 2,847,563 shares of the company’s stock valued at $296,644,000 after buying an additional 1,155,191 shares during the last quarter. FMR LLC boosted its position in shares of Illinois Tool Works by 51.4% in the second quarter. FMR LLC now owns 3,111,178 shares of the company’s stock valued at $324,061,000 after buying an additional 1,055,623 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Illinois Tool Works during the second quarter valued at about $106,575,000. Smith Asset Management Group LP acquired a new position in shares of Illinois Tool Works during the third quarter valued at about $39,717,000. Finally, Vanguard Group Inc. boosted its position in shares of Illinois Tool Works by 1.4% in the second quarter. Vanguard Group Inc. now owns 21,049,488 shares of the company’s stock valued at $2,192,515,000 after buying an additional 287,704 shares in the last quarter. 75.34% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.66% during mid-day trading on Friday, hitting $125.77. 464,967 shares of the company traded hands. The company has a market capitalization of $44.15 billion, a price-to-earnings ratio of 22.96 and a beta of 1.06. The company’s 50-day moving average price is $117.74 and its 200 day moving average price is $113.57. Illinois Tool Works Inc. has a one year low of $79.15 and a one year high of $125.77.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, October 20th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The firm earned $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.65 per share. The ex-dividend date is Wednesday, December 28th. This represents a $2.60 annualized dividend and a yield of 2.07%. Illinois Tool Works’s dividend payout ratio is currently 47.45%.
Several equities analysts have recently issued reports on ITW shares. Jefferies Group reaffirmed a “buy” rating on shares of Illinois Tool Works in a research note on Monday, October 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a research note on Thursday, August 25th. Finally, Goldman Sachs Group Inc. cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective on the stock. 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 given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $111.07.
In other news, insider Sundaram Nagarajan sold 34,299 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 54,516 shares of the company’s stock, valued at approximately $6,684,751.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Henderson purchased 4,000 shares of the stock in a transaction dated Tuesday, October 25th. The stock was bought at an average cost of $111.94 per share, with a total value of $447,760.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at $447,760. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
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.