Intellectus Partners LLC Buys 294 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Intellectus Partners LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,923 shares of the industrial products company’s stock after acquiring an additional 294 shares during the quarter. Intellectus Partners LLC’s holdings in Illinois Tool Works were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in Illinois Tool Works by 10.4% in the 3rd quarter. Pacer Advisors Inc. now owns 31,862 shares of the industrial products company’s stock valued at $4,986,000 after acquiring an additional 3,006 shares in the last quarter. Gofen & Glossberg LLC IL lifted its position in Illinois Tool Works by 2.1% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 25,719 shares of the industrial products company’s stock worth $4,025,000 after buying an additional 517 shares in the last quarter. American National Bank lifted its position in Illinois Tool Works by 16.9% during the 3rd quarter. American National Bank now owns 2,774 shares of the industrial products company’s stock worth $434,000 after buying an additional 401 shares in the last quarter. Allworth Financial LP lifted its position in Illinois Tool Works by 25.1% during the 3rd quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after buying an additional 70 shares in the last quarter. Finally, Parisi Gray Wealth Management lifted its position in Illinois Tool Works by 7.8% during the 3rd quarter. Parisi Gray Wealth Management now owns 1,875 shares of the industrial products company’s stock worth $293,000 after buying an additional 136 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Credit Suisse Group boosted their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Northcoast Research cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a research report on Wednesday, June 26th. Stifel Nicolaus set a $143.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target on the stock. in a research report on Tuesday, July 9th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $141.75.

In other news, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the transaction, the insider now directly owns 16,315 shares in the company, valued at approximately $2,610,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 35,617 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the transaction, the chief financial officer now owns 38,726 shares in the company, valued at $6,181,056.86. The disclosure for this sale can be found here. Insiders have sold a total of 158,458 shares of company stock worth $25,172,163 over the last 90 days. 0.87% of the stock is owned by company insiders.

Illinois Tool Works stock opened at $154.53 on Friday. The firm has a market capitalization of $49.99 billion, a PE ratio of 20.33, a P/E/G ratio of 2.63 and a beta of 1.22. The company’s 50-day moving average is $152.22 and its 200-day moving average is $151.04. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $161.71. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.03. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. Illinois Tool Works’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 7.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were paid a dividend of $1.07 per share. The ex-dividend date was Friday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a dividend yield of 2.77%. Illinois Tool Works’s payout ratio is currently 56.32%.

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

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