Today The Illinois Tool Works Inc. (ITW) Shares Bought by Cedar Wealth Management LLC

Today The Illinois Tool Works Inc. (ITW) Shares Bought by Cedar Wealth Management LLC

Cedar Wealth Management LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 2,524 shares of the company’s stock after buying an additional 74 shares during the period. Illinois Tool Works makes up about 0.2% of Cedar Wealth Management LLC’s holdings, making the stock its 21st largest position. Cedar Wealth Management LLC’s holdings in Illinois Tool Works were worth $302,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position 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 valued at $985,166,000 after buying an additional 170,277 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Illinois Tool Works by 4.3% in the second quarter. BlackRock Fund Advisors now owns 3,658,157 shares of the company’s stock worth $381,034,000 after buying an additional 149,135 shares in the last quarter. FMR LLC boosted its stake 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 worth $324,061,000 after buying an additional 1,055,623 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its stake in shares of Illinois Tool Works by 0.8% in the second quarter. Aristotle Capital Management LLC now owns 2,070,023 shares of the company’s stock worth $215,614,000 after buying an additional 17,214 shares in the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 127.06 on Wednesday. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 23.20 and a beta of 1.06. Illinois Tool Works Inc. has a 12-month low of $84.62 and a 12-month high of $127.99. The firm’s 50-day moving average is $124.34 and its 200-day moving average is $119.42.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Wednesday, December 28th. Illinois Tool Works’s payout ratio is 47.45%.

A number of research analysts have weighed in on ITW shares. BMO Capital Markets boosted their target price on shares of Illinois Tool Works from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 6th. Royal Bank Of Canada upped their price objective on shares of Illinois Tool Works from $116.00 to $118.00 and gave the stock a “sector perform” rating in a research note on Monday, December 5th. RBC Capital Markets upped their price objective on shares of Illinois Tool Works from $116.00 to $118.00 and gave the stock a “sector perform” rating in a research note on Monday, December 5th. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $145.00 price target (up from $135.00) on shares of Illinois Tool Works in a research note on Monday, December 5th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $121.13.

In other news, Vice Chairman David C. Parry sold 31,037 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $124.26, for a total value of $3,856,657.62. Following the sale, the insider now directly owns 31,621 shares of the company’s stock, valued at $3,929,225.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sundaram Nagarajan sold 34,299 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $122.62, for a total transaction of $4,205,743.38. Following the completion of the sale, the insider now directly owns 54,516 shares in the company, valued at $6,684,751.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,599 shares of company stock worth $9,207,631. Insiders own 0.80% of the company’s stock.

About Illinois Tool Works

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.

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