Illinois Tool Works Inc. (ITW) Shares Sold by Ingalls & Snyder LLC
Ingalls & Snyder LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,473 shares of the company’s stock after selling 145 shares during the period. Ingalls & Snyder LLC’s holdings in Illinois Tool Works were worth $1,495,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. 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 worth $108,000 after buying an additional 5 shares during the last quarter. Archford Capital Strategies LLC boosted its position in 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 valued at $122,000 after buying an additional 1,069 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in Illinois Tool Works during the second quarter valued at $128,000. Farmers National Bank purchased a new position in Illinois Tool Works during the second quarter valued at $129,000. Finally, Taylor Wealth Management Partners boosted its position in Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock valued at $129,000 after buying an additional 225 shares in the last quarter. 74.51% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.59% during trading on Tuesday, hitting $125.61. The stock had a trading volume of 1,222,883 shares. Illinois Tool Works Inc. has a 1-year low of $79.15 and a 1-year high of $126.16. The firm has a market capitalization of $44.09 billion, a PE ratio of 22.93 and a beta of 1.06. The firm has a 50 day moving average price of $118.09 and a 200-day moving average price of $114.00.
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 Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company earned $3.50 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $1.39 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post $5.63 EPS for the current year.
The company 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. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.60 annualized dividend and a dividend yield of 2.07%. Illinois Tool Works’s dividend payout ratio is presently 47.45%.
Several research firms have recently weighed in on ITW. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Deutsche Bank AG reaffirmed a “buy” rating and set a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. Jefferies Group reaffirmed a “buy” rating on shares of Illinois Tool Works in a research report on Monday, October 24th. Finally, Goldman Sachs Group Inc. cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective for the company. in a research report on Monday, November 21st. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $111.07.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $119.50, for a total transaction of $544,920.00. Following the completion of the transaction, the insider now owns 24,777 shares in the company, valued at approximately $2,960,851.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay L. Henderson purchased 4,000 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were bought at an average price of $111.94 per share, with a total value of $447,760.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $447,760. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.
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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