Stratos Wealth Partners LTD. raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,968 shares of the industrial products company’s stock after acquiring an additional 671 shares during the period. Stratos Wealth Partners LTD.’s holdings in Illinois Tool Works were worth $2,866,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ITW. Pearl River Capital LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $25,000. Rational Advisors LLC grew its holdings in shares of Illinois Tool Works by 1,492.3% during the fourth quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 194 shares during the last quarter. WP Advisors LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth $28,000. Focused Wealth Management Inc bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $38,000. Finally, Athena Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the transaction, the insider now owns 71,927 shares of the company’s stock, valued at $10,486,237.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Juan Valls sold 52,265 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total value of $7,443,058.65. Following the completion of the transaction, the executive vice president now directly owns 78,620 shares in the company, valued at approximately $11,196,274.20. The disclosure for this sale can be found here. Insiders have sold 110,142 shares of company stock worth $15,992,093 in the last ninety days. 0.87% of the stock is currently owned by insiders.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 7.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.
Several analysts have recently commented on ITW shares. Credit Suisse Group restated a “hold” rating and set a $124.00 target price on shares of Illinois Tool Works in a report on Tuesday, January 22nd. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. BMO Capital Markets decreased their target price on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a report on Monday, February 25th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $142.59.
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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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