IFM Investors Pty Ltd Acquires New Holdings in Illinois Tool Works Inc. (ITW)

IFM Investors Pty Ltd acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,770 shares of the industrial products company’s stock, valued at approximately $1,298,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITW. BlackRock Inc. raised its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after purchasing an additional 18,221,359 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Illinois Tool Works in the first quarter valued at approximately $6,838,000. Investment Centers of America Inc. raised its stake in Illinois Tool Works by 25.0% in the first quarter. Investment Centers of America Inc. now owns 4,689 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 937 shares in the last quarter. Paloma Partners Management Co raised its stake in Illinois Tool Works by 113.6% in the first quarter. Paloma Partners Management Co now owns 16,236 shares of the industrial products company’s stock valued at $2,151,000 after purchasing an additional 8,635 shares in the last quarter. Finally, Fiduciary Trust Co. raised its stake in Illinois Tool Works by 5.7% in the first quarter. Fiduciary Trust Co. now owns 130,298 shares of the industrial products company’s stock valued at $17,261,000 after purchasing an additional 7,081 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (ITW) traded down $1.15 during mid-day trading on Wednesday, reaching $163.88. The company had a trading volume of 1,481,200 shares, compared to its average volume of 1,209,300. Illinois Tool Works Inc. has a 12 month low of $120.06 and a 12 month high of $169.69. The stock has a market capitalization of $56,539.11, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 2.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98.

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, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. research analysts predict that Illinois Tool Works Inc. will post 6.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is presently 47.78%.

A number of brokerages recently weighed in on ITW. Bank of America began coverage on shares of Illinois Tool Works in a research note on Monday. They issued a “buy” rating and a $190.00 target price on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $166.00 price target on shares of Illinois Tool Works in a research report on Tuesday, December 5th. BMO Capital Markets increased 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. Robert W. Baird reiterated a “hold” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Sunday, December 3rd. Finally, Wells Fargo & Company set a $190.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $164.38.

In other news, insider Harold B. Smith sold 30,000 shares of Illinois Tool Works stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the completion of the transaction, the insider now directly owns 18,622 shares of the company’s stock, valued at approximately $2,886,410. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,324 shares of company stock valued at $35,645,914. 0.90% of the stock is owned by insiders.

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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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