Illinois Tool Works Inc. (ITW) Shares Bought by Stonebridge Capital Management Inc.
Stonebridge Capital Management Inc. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,608 shares of the industrial products company’s stock after purchasing an additional 635 shares during the period. Stonebridge Capital Management Inc.’s holdings in Illinois Tool Works were worth $2,309,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Omnia Family Wealth LLC boosted its holdings in Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2 shares in the last quarter. Private Vista LLC boosted its holdings in Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares in the last quarter. Harding Loevner LP bought a new position in Illinois Tool Works in the second quarter worth approximately $115,000. WFG Advisors LP boosted its holdings in Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 75.03% of the company’s stock.
In related news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the completion of the sale, the insider now directly owns 18,622 shares of the company’s stock, valued at $2,886,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Valls sold 48,622 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The disclosure for this sale can be found here. Insiders have sold 126,506 shares of company stock valued at $19,801,832 over the last ninety days. 0.90% of the stock is currently owned by company insiders.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $155.85 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $54,315.64, a P/E ratio of 25.17, a P/E/G ratio of 2.37 and a beta of 1.16. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $159.36.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. Illinois Tool Works’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.50 earnings per share. research analysts anticipate that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
Several research analysts have issued reports on ITW shares. Argus reiterated a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $171.00 target price (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley raised their target price on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company set a $170.00 target price on Illinois Tool Works and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $157.27.
About Illinois Tool Works
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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