Barings LLC Acquires 20,314 Shares of Illinois Tool Works Inc. (ITW)

Barings LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 121.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,069 shares of the industrial products company’s stock after buying an additional 20,314 shares during the quarter. Barings LLC’s holdings in Illinois Tool Works were worth $6,185,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Advisors LLC lifted its position in Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 623 shares during the period. Harding Loevner LP acquired a new stake in Illinois Tool Works in the second quarter valued at about $115,000. WFG Advisors LP lifted its position in Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Salem Investment Counselors Inc. lifted its position in Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at about $130,000. Institutional investors and hedge funds own 74.63% of the company’s stock.

Illinois Tool Works Inc. (ITW) opened at $162.47 on Thursday. Illinois Tool Works Inc. has a 1-year low of $128.03 and a 1-year high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The stock has a market cap of $55,449.65, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. equities research analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the completion of the transaction, the insider now directly owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,468 shares of company stock valued at $19,163,781. 0.90% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on ITW. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $160.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Credit Suisse Group raised their price objective on shares of Illinois Tool Works from $163.00 to $166.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Wells Fargo & Co raised their price objective on shares of Illinois Tool Works from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price objective on shares of Illinois Tool Works from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Jefferies Group restated a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $177.18.

TRADEMARK VIOLATION WARNING: “Barings LLC Acquires 20,314 Shares of Illinois Tool Works Inc. (ITW)” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2018/02/15/barings-llc-acquires-20314-shares-of-illinois-tool-works-inc-itw.html.

Illinois Tool Works 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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply