Illinois Tool Works Inc. (ITW) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,190 shares of the industrial products company’s stock after buying an additional 2,092 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Illinois Tool Works were worth $3,727,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares in the last quarter. Harding Loevner LP purchased a new stake in Illinois Tool Works during the 2nd quarter worth about $115,000. WFG Advisors LP increased its position in Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Illinois Tool Works in the 2nd quarter worth about $139,000. Institutional investors and hedge funds own 74.81% of the company’s stock.
Illinois Tool Works Inc. (ITW) traded up $1.40 during trading on Thursday, reaching $165.88. The company had a trading volume of 1,455,700 shares, compared to its average volume of 1,197,059. The firm has a market cap of $56,350.68, a price-to-earnings ratio of 26.11, a PEG ratio of 2.46 and a beta of 1.16. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a 12-month low of $120.06 and a 12-month high of $166.06.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company posted $1.50 EPS. Illinois Tool Works’s revenue for the quarter was up 3.4% on a year-over-year basis. sell-side analysts anticipate that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.88%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.78%.
In related news, insider John R. Hartnett sold 6,533 shares of the business’s 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 transaction, the insider now owns 18,622 shares in the company, valued at approximately $2,886,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock valued at $19,801,832 over the last quarter. Company insiders own 0.90% of the company’s stock.
A number of analysts have issued reports on ITW shares. BidaskClub lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a research note on Wednesday, August 16th. J P Morgan Chase & Co lowered Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $141.00 to $132.00 in a research note on Thursday, August 17th. Robert W. Baird set a $145.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $143.00 price target on shares of Illinois Tool Works in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $158.60.
Illinois Tool Works Profile
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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