Illinois Tool Works Inc. (ITW) Vice Chairman David C. Parry Sells 31,037 Shares
Illinois Tool Works Inc. (NYSE:ITW) Vice Chairman David C. Parry sold 31,037 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $124.26, for a total value of $3,856,657.62. Following the sale, the insider now directly owns 31,621 shares of the company’s stock, valued at approximately $3,929,225.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.49% on Monday, hitting $123.35. The stock had a trading volume of 293,915 shares. The firm’s 50 day moving average price is $117.35 and its 200-day moving average price is $113.07. The stock has a market cap of $43.30 billion, a PE ratio of 22.52 and a beta of 1.06. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $125.15.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm posted $1.39 EPS. Illinois Tool Works’s revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Illinois Tool Works Inc. will post $5.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Investors of record on Friday, December 30th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, December 28th. Illinois Tool Works’s payout ratio is 47.45%.
A number of large investors have recently bought and sold shares of ITW. Dubuque Bank & Trust Co. raised its position in Illinois Tool Works by 43.5% in the third quarter. Dubuque Bank & Trust Co. now owns 890 shares of the company’s stock worth $107,000 after buying an additional 270 shares during the period. Hudock Capital Group LLC raised its position in Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock worth $108,000 after buying an additional 5 shares during the period. Taylor Wealth Management Partners raised its position in Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock worth $129,000 after buying an additional 225 shares during the period. Edmond de Rothschild Europe acquired a new position in Illinois Tool Works during the third quarter worth $131,000. Finally, Peddock Capital Advisors LLC acquired a new position in Illinois Tool Works during the third quarter worth $138,000. Institutional investors own 75.34% of the company’s stock.
Several research firms have issued reports on ITW. Goldman Sachs Group Inc. lowered Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Monday. They noted that the move was a valuation call. Deutsche Bank AG reissued a “buy” rating and set a $102.00 price target on shares of Illinois Tool Works in a report on Thursday, August 25th. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Jefferies Group boosted their price objective on Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $111.20.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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