MPI Investment Management Inc. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,087 shares of the industrial products company’s stock, valued at approximately $348,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of Illinois Tool Works by 2,939.8% during the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after purchasing an additional 3,628,722 shares in the last quarter. BlackRock Inc. boosted its holdings in Illinois Tool Works by 5.8% in the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock worth $2,927,540,000 after acquiring an additional 1,118,381 shares in the last quarter. Vaughan David Investments Inc. IL boosted its holdings in Illinois Tool Works by 34,278.6% in the third quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock worth $35,779,000 after acquiring an additional 936,835 shares in the last quarter. Koch Industries Inc. boosted its holdings in Illinois Tool Works by 31,484.3% in the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock worth $763,000 after acquiring an additional 765,699 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Illinois Tool Works by 100.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after purchasing an additional 707,287 shares during the last quarter. 74.63% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on ITW shares. Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 price target (up previously from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. BMO Capital Markets upped their price target on Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Argus restated a “buy” rating and issued a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Finally, Bank of America assumed coverage on Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $177.18.
Illinois Tool Works Inc. (NYSE:ITW) traded down $0.54 on Thursday, reaching $161.93. The company’s stock had a trading volume of 404,532 shares, compared to its average volume of 1,477,492. 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 P/E ratio of 33.33, a P/E/G ratio of 2.08 and a beta of 1.18. Illinois Tool Works Inc. has a one year low of $128.03 and a one year high of $179.07.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. equities analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.
The firm 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 $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.93%. Illinois Tool Works’s payout ratio is 64.20%.
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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.
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