Front Barnett Associates LLC reduced its position in Illinois Tool Works (NYSE:ITW) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,228 shares of the industrial products company’s stock after selling 498 shares during the period. Front Barnett Associates LLC’s holdings in Illinois Tool Works were worth $4,892,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pioneer Trust Bank N A OR increased its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Pioneer Trust Bank N A OR now owns 22,955 shares of the industrial products company’s stock valued at $3,830,000 after acquiring an additional 300 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Illinois Tool Works by 0.7% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,915 shares of the industrial products company’s stock valued at $7,786,000 after purchasing an additional 322 shares during the period. Peachtree Investment Advisors Inc. boosted its position in Illinois Tool Works by 2.1% during the 4th quarter. Peachtree Investment Advisors Inc. now owns 17,135 shares of the industrial products company’s stock valued at $2,859,000 after purchasing an additional 360 shares during the period. Signaturefd LLC boosted its position in Illinois Tool Works by 26.5% during the 4th quarter. Signaturefd LLC now owns 1,740 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 364 shares during the period. Finally, Sigma Planning Corp boosted its position in Illinois Tool Works by 8.9% during the 4th quarter. Sigma Planning Corp now owns 4,504 shares of the industrial products company’s stock worth $752,000 after acquiring an additional 368 shares during the period. 78.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Illinois Tool Works traded up $1.03, reaching $146.80, during mid-day trading on Friday, according to Marketbeat. The company had a trading volume of 1,864,505 shares, compared to its average volume of 1,847,681. Illinois Tool Works has a twelve month low of $135.07 and a twelve month high of $179.07. The stock has a market cap of $49.73 billion, a PE ratio of 22.28, a PEG ratio of 1.87 and a beta of 1.25. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.13%. Illinois Tool Works’s payout ratio is 47.34%.
A number of research analysts have issued reports on ITW shares. ValuEngine upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Credit Suisse Group upped their price objective on Illinois Tool Works from $163.00 to $166.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. BMO Capital Markets reissued a “hold” rating and set a $170.00 price target on shares of Illinois Tool Works in a research report on Wednesday, April 18th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $177.67.
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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