DekaBank Deutsche Girozentrale lifted its stake in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,510 shares of the industrial products company’s stock after purchasing an additional 14,511 shares during the period. DekaBank Deutsche Girozentrale owned 0.13% of Illinois Tool Works worth $102,832,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Moors & Cabot Inc. lifted its holdings in shares of Illinois Tool Works by 0.6% in the 3rd quarter. Moors & Cabot Inc. now owns 6,369 shares of the industrial products company’s stock valued at $1,319,000 after acquiring an additional 41 shares during the last quarter. Old North State Trust LLC increased its position in shares of Illinois Tool Works by 23.3% during the fourth quarter. Old North State Trust LLC now owns 233 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 44 shares during the period. WBH Advisory Inc. increased its position in shares of Illinois Tool Works by 2.2% during the third quarter. WBH Advisory Inc. now owns 2,115 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 45 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Illinois Tool Works by 4.9% during the third quarter. Valeo Financial Advisors LLC now owns 970 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 45 shares during the period. Finally, Adirondack Trust Co. increased its holdings in Illinois Tool Works by 4.8% during the third quarter. Adirondack Trust Co. now owns 977 shares of the industrial products company’s stock valued at $223,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.
A number of research analysts recently issued reports on ITW shares. Barclays decreased their target price on shares of Illinois Tool Works from $209.00 to $200.00 and set an “underweight” rating for the company in a research report on Monday, April 4th. The Goldman Sachs Group boosted their target price on shares of Illinois Tool Works from $239.00 to $263.00 and gave the stock a “neutral” rating in a research note on Monday, December 13th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $262.00 to $255.00 in a research note on Monday, March 28th. StockNews.com assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Morgan Stanley cut their target price on shares of Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $237.62.
Illinois Tool Works (NYSE:ITW – Get Rating) last released its earnings results on Thursday, February 3rd. The industrial products company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.06. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a net margin of 18.64% and a return on equity of 74.43%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.11 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 9.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.40%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.34%.
In related news, CEO Ernest Scott Santi sold 148,789 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $231.44, for a total value of $34,435,726.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.78% of the company’s stock.
Illinois Tool Works Profile (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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