Tredje AP fonden cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,735 shares of the industrial products company’s stock after selling 4,928 shares during the quarter. Tredje AP fonden’s holdings in Illinois Tool Works were worth $4,108,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CFM Wealth Partners LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $25,000. Stonebridge Financial Planning Group LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $27,000. D Orazio & Associates Inc. purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $28,000. B & T Capital Management DBA Alpha Capital Management purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $34,000. Finally, Usca Ria LLC purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 76.46% of the company’s stock.
ITW stock traded down $5.30 during mid-day trading on Tuesday, reaching $177.76. The company had a trading volume of 127,970 shares, compared to its average volume of 1,250,328. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.36 and a current ratio of 2.90. The company has a market capitalization of $60.45 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 3.17 and a beta of 1.23. The firm has a fifty day simple moving average of $181.47 and a 200 day simple moving average of $168.06. Illinois Tool Works Inc. has a fifty-two week low of $136.92 and a fifty-two week high of $190.85.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.47 billion. Illinois Tool Works had a return on equity of 81.83% and a net margin of 17.87%. Illinois Tool Works’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 7.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.
A number of equities analysts recently commented on ITW shares. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price for the company. in a report on Monday, October 28th. Deutsche Bank raised their target price on Illinois Tool Works from $142.00 to $164.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on Illinois Tool Works from $142.00 to $156.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. BMO Capital Markets restated a “market perform” rating and set a $165.00 target price on shares of Illinois Tool Works in a report on Tuesday, February 4th. Finally, UBS Group raised their target price on Illinois Tool Works from $168.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $159.79.
Illinois Tool Works Profile
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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