4,183 Shares in Illinois Tool Works Inc. (ITW) Purchased by Bedel Financial Consulting Inc.
Bedel Financial Consulting Inc. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, HoldingsChannel reports. The fund purchased 4,183 shares of the industrial products company’s stock, valued at approximately $698,000.
A number of other large investors have also recently added to or reduced their stakes in ITW. Beach Investment Management LLC. acquired a new position in Illinois Tool Works during the second quarter worth $1,073,000. Eaton Vance Management raised its stake in shares of Illinois Tool Works by 1.1% in the second quarter. Eaton Vance Management now owns 1,170,927 shares of the industrial products company’s stock valued at $167,735,000 after acquiring an additional 12,264 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Illinois Tool Works by 2.3% in the second quarter. Aberdeen Asset Management PLC UK now owns 152,352 shares of the industrial products company’s stock valued at $21,824,000 after acquiring an additional 3,445 shares in the last quarter. Jackson Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the second quarter valued at $1,517,000. Finally, Financial Counselors Inc. raised its stake in shares of Illinois Tool Works by 0.4% in the second quarter. Financial Counselors Inc. now owns 6,702 shares of the industrial products company’s stock valued at $960,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 74.61% of the company’s stock.
Several analysts have recently issued reports on ITW shares. Argus reiterated a “buy” rating and issued a $180.00 price objective (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Morgan Stanley increased their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Wells Fargo & Co set a $170.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 price objective (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $177.18.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. Illinois Tool Works’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. equities analysts expect that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.
In related news, insider Sundaram Nagarajan sold 18,650 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the transaction, the insider now owns 42,497 shares of the company’s stock, valued at $7,564,466. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harold B. Smith sold 30,000 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Insiders sold 113,468 shares of company stock worth $19,163,781 in the last three months. 0.90% of the stock is currently owned by corporate insiders.
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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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