Atlas Brown Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,635 shares of the industrial products company’s stock after selling 200 shares during the period. Atlas Brown Inc.’s holdings in Illinois Tool Works were worth $482,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Illinois Tool Works by 0.4% in the third quarter. Northern Trust Corp now owns 34,111,354 shares of the industrial products company’s stock valued at $4,087,905,000 after buying an additional 121,298 shares in the last quarter. State Street Corp boosted its position in shares of Illinois Tool Works by 3.7% in the fourth quarter. State Street Corp now owns 14,765,162 shares of the industrial products company’s stock valued at $1,808,132,000 after buying an additional 532,871 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Illinois Tool Works by 2.1% in the third quarter. Wells Fargo & Company MN now owns 8,220,678 shares of the industrial products company’s stock valued at $985,166,000 after buying an additional 170,277 shares in the last quarter. Norges Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $491,423,000. Finally, BlackRock Fund Advisors boosted its position in shares of Illinois Tool Works by 2.3% in the third quarter. BlackRock Fund Advisors now owns 3,742,998 shares of the industrial products company’s stock valued at $448,561,000 after buying an additional 84,841 shares in the last quarter. Institutional investors own 74.80% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.576% during midday trading on Friday, reaching $135.355. 1,082,844 shares of the company’s stock traded hands. Illinois Tool Works Inc. has a 1-year low of $98.32 and a 1-year high of $136.03. The firm’s 50-day moving average is $133.00 and its 200-day moving average is $125.68. The company has a market capitalization of $46.91 billion, a price-to-earnings ratio of 23.746 and a beta of 1.01.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, January 25th. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The company earned $3.39 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Illinois Tool Works had a return on equity of 41.90% and a net margin of 14.96%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Analysts forecast that Illinois Tool Works Inc. will post $6.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 11th. Stockholders of record on Friday, March 31st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, March 29th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 45.61%.
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Several brokerages have recently weighed in on ITW. BMO Capital Markets reiterated a “buy” rating and set a $145.00 price target on shares of Illinois Tool Works in a research note on Thursday. Barclays PLC lifted their price target on shares of Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a research report on Wednesday, March 29th. Goldman Sachs Group Inc downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $123.00 to $121.00 in a research report on Friday, February 17th. Finally, Jefferies Group LLC restated a “buy” rating and set a $145.00 price objective on shares of Illinois Tool Works in a research report on Friday, March 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $127.54.
In other Illinois Tool Works news, insider Lei Zhang Schlitz sold 33,629 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $129.49, for a total value of $4,354,619.21. Following the sale, the insider now directly owns 16,299 shares of the company’s stock, valued at $2,110,557.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sundaram Nagarajan sold 4,554 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $133.28, for a total value of $606,957.12. Following the completion of the sale, the insider now directly owns 28,401 shares in the company, valued at $3,785,285.28. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Illinois Tool Works Company Profile
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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