Corient Private Wealth LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 615,758 shares of the industrial products company’s stock after purchasing an additional 2,641 shares during the quarter. Corient Private Wealth LLC’s holdings in Illinois Tool Works were worth $153,330,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH grew its stake in Illinois Tool Works by 70.1% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock worth $4,753,000 after buying an additional 7,508 shares during the last quarter. Hudson Bay Capital Management LP lifted its stake in Illinois Tool Works by 123.4% in the third quarter. Hudson Bay Capital Management LP now owns 23,063 shares of the industrial products company’s stock valued at $6,014,000 after buying an additional 12,741 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of Illinois Tool Works by 691.3% in the fourth quarter. Gradient Investments LLC now owns 62,677 shares of the industrial products company’s stock valued at $15,437,000 after acquiring an additional 54,756 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $2,498,000. Finally, Vinva Investment Management Ltd increased its holdings in shares of Illinois Tool Works by 32.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 76,587 shares of the industrial products company’s stock valued at $20,018,000 after acquiring an additional 18,801 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.
Illinois Tool Works Stock Performance
Shares of ITW opened at $264.38 on Friday. The stock has a market capitalization of $76.06 billion, a P/E ratio of 24.55, a P/E/G ratio of 4.54 and a beta of 1.01. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The company’s fifty day moving average is $258.49 and its two-hundred day moving average is $263.43.
Illinois Tool Works Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $1.61 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.80%.
Insiders Place Their Bets
In other Illinois Tool Works news, Director Jennifer F. Scanlon acquired 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the acquisition, the director owned 1,652 shares of the company’s stock, valued at $409,679.48. This trade represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Citigroup upped their target price on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wolfe Research increased their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Finally, Evercore lowered their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $271.92.
Check Out Our Latest Stock Report on Illinois Tool Works
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.
The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.
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