Cambridge Investment Research Advisors Inc. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 19.4% in the first quarter, HoldingsChannel.com reports. The firm owned 31,306 shares of the industrial products company’s stock after purchasing an additional 5,097 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Illinois Tool Works were worth $4,493,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its position in Illinois Tool Works by 1.3% in the third quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock worth $3,615,123,000 after purchasing an additional 317,172 shares during the period. Northern Trust Corp lifted its position in Illinois Tool Works by 2.2% in the fourth quarter. Northern Trust Corp now owns 14,161,839 shares of the industrial products company’s stock worth $1,794,164,000 after purchasing an additional 309,895 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Illinois Tool Works by 12,441.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 9,962,137 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Illinois Tool Works by 27.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock worth $1,117,426,000 after purchasing an additional 1,907,471 shares during the period. Finally, Geode Capital Management LLC lifted its position in Illinois Tool Works by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after purchasing an additional 227,625 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.
NYSE ITW opened at $145.72 on Monday. The firm has a market capitalization of $47.47 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.38 and a beta of 1.21. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $158.69. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works Inc. will post 7.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.
In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the sale, the insider now directly owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John R. Hartnett sold 14,323 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the sale, the executive vice president now directly owns 31,695 shares in the company, valued at $4,866,767.25. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.
Several research firms have issued reports on ITW. Argus upped their price target on Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup set a $161.00 price target on Illinois Tool Works and gave the company a “hold” rating in a report on Friday, April 26th. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. Stifel Nicolaus upped their price target on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets dropped their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a report on Monday, February 25th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $142.59.
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About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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