Dynamic Advisors Solutions LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,890 shares of the industrial products company’s stock after selling 371 shares during the period. Dynamic Advisors Solutions LLC’s holdings in Illinois Tool Works were worth $815,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Mariner Wealth Advisors LLC increased its position in Illinois Tool Works by 37.6% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 8,256 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 2,258 shares in the last quarter. Horizon Investments LLC increased its position in Illinois Tool Works by 10.5% during the 2nd quarter. Horizon Investments LLC now owns 5,024 shares of the industrial products company’s stock worth $690,000 after purchasing an additional 478 shares in the last quarter. Harfst & Associates Inc. increased its position in Illinois Tool Works by 4.6% in the 2nd quarter. Harfst & Associates Inc. now owns 2,602 shares of the industrial products company’s stock valued at $372,000 after acquiring an additional 114 shares during the period. Cibc World Markets Corp increased its position in Illinois Tool Works by 34.9% in the 2nd quarter. Cibc World Markets Corp now owns 43,935 shares of the industrial products company’s stock valued at $6,294,000 after acquiring an additional 11,371 shares during the period. Finally, Harding Loevner LP acquired a new position in Illinois Tool Works in the 2nd quarter valued at approximately $115,000. 74.41% of the stock is owned by institutional investors.
In other news, insider Roland M. Martel sold 64,818 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares in the company, valued at $4,389,825.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sundaram Nagarajan sold 18,650 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at $7,564,466. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,468 shares of company stock valued at $19,163,781. 0.90% of the stock is currently owned by corporate insiders.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ 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 in the prior year, the company posted $1.39 earnings per share. Illinois Tool Works’s revenue for the quarter was up 6.8% compared to the same quarter last year. research analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 46.02%.
Several equities analysts have issued reports on the stock. Argus restated a “buy” rating and issued a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Seaport Global Securities restated a “buy” rating and issued a $200.00 price target on shares of Illinois Tool Works in a research report on Thursday, January 25th. BMO Capital Markets upped their price target on shares of Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, Credit Suisse Group decreased their price target on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. One 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 stock presently has an average rating of “Hold” and a consensus target price of $177.18.
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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