Illinois Tool Works Inc. (NYSE:ITW) Holdings Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 53.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,544 shares of the industrial products company’s stock after purchasing an additional 14,412 shares during the period. Illinois Tool Works accounts for 0.4% of Cubist Systematic Strategies LLC’s portfolio, making the stock its 28th largest holding. Cubist Systematic Strategies LLC’s holdings in Illinois Tool Works were worth $5,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in Illinois Tool Works by 71.3% during the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock worth $3,600,000 after acquiring an additional 10,457 shares during the period. Ffcm LLC grew its holdings in shares of Illinois Tool Works by 6.4% in the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after buying an additional 714 shares during the period. Oakmont Partners LLC grew its holdings in shares of Illinois Tool Works by 51.1% in the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 5,362 shares during the period. Sumitomo Life Insurance Co. grew its holdings in shares of Illinois Tool Works by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 786 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Illinois Tool Works by 100.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after buying an additional 707,287 shares during the period. 75.03% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on ITW. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $170.00 price target (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. BMO Capital Markets restated a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Citigroup Inc. restated a “buy” rating and set a $162.00 target price on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company set a $170.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $157.27.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up $0.47 during mid-day trading on Tuesday, reaching $157.61. 916,700 shares of the company’s stock traded hands, compared to its average volume of 1,210,990. The company has a market capitalization of $53,836.01, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a twelve month low of $120.06 and a twelve month high of $159.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.98%. Illinois Tool Works’s dividend payout ratio is presently 47.78%.

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In other Illinois Tool Works news, VP Norman D. Jr. Finch bought 4,986 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average cost of $156.34 per share, with a total value of $779,511.24. Following the transaction, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now directly owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. In the last three months, insiders sold 126,506 shares of company stock valued at $19,801,832. Corporate insiders own 0.90% 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.

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

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