Boston Private Wealth LLC Sells 944 Shares of Illinois Tool Works Inc. (ITW)
Boston Private Wealth LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,059 shares of the industrial products company’s stock after selling 944 shares during the period. Boston Private Wealth LLC’s holdings in Illinois Tool Works were worth $3,856,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ITW. Cetera Investment Advisers bought a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $601,000. Quantbot Technologies LP raised its holdings in shares of Illinois Tool Works by 71.3% during the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after buying an additional 10,457 shares during the last quarter. Ffcm LLC raised its holdings in shares of Illinois Tool Works by 6.4% during the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after buying an additional 714 shares during the last quarter. Oakmont Partners LLC raised its holdings in shares of Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 5,362 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of Illinois Tool Works by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 786 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE ITW) traded down $4.38 during midday trading on Friday, hitting $164.87. 1,913,816 shares of the company were exchanged, compared to its average volume of 906,532. Illinois Tool Works Inc. has a fifty-two week low of $120.06 and a fifty-two week high of $169.69. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $57,984.88, a price-to-earnings ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.18.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. analysts forecast that Illinois Tool Works Inc. will post 6.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.89%. Illinois Tool Works’s dividend payout ratio is presently 47.78%.
A number of equities research analysts have recently weighed in on the company. Jefferies Group reaffirmed a “buy” rating and set a $190.00 price target on shares of Illinois Tool Works in a report on Wednesday. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley lifted their price target 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. BMO Capital Markets lifted their price target on Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. Finally, Credit Suisse Group cut their price target on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. One 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 company. The company presently has a consensus rating of “Hold” and an average price target of $158.60.
In related news, VP Norman D. Jr. Finch acquired 4,986 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the purchase, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total transaction of $7,620,526.06. Following the transaction, the executive vice president now owns 71,101 shares in the company, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. Insiders have sold 126,506 shares of company stock worth $19,801,832 in the last quarter. Company insiders own 0.90% of the company’s stock.
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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