Illinois Tool Works Inc. (ITW) Insider Michael R. Zimmerman Sells 9,238 Shares
Illinois Tool Works Inc. (NYSE:ITW) insider Michael R. Zimmerman sold 9,238 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $123.63, for a total transaction of $1,142,093.94. Following the completion of the sale, the insider now directly owns 11,016 shares of the company’s stock, valued at $1,361,908.08. The transaction was disclosed in a filing with the SEC, which is available at this link.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.40% during mid-day trading on Thursday, reaching $124.94. The company’s stock had a trading volume of 1,172,732 shares. The stock has a market cap of $43.85 billion, a price-to-earnings ratio of 22.81 and a beta of 1.06. Illinois Tool Works Inc. has a 12-month low of $79.15 and a 12-month high of $125.24. The firm’s 50 day moving average price is $117.74 and its 200 day moving average price is $113.57.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, October 20th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The business earned $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post $5.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.45%.
Several hedge funds have recently bought and sold shares of ITW. Northern Trust Corp boosted its stake in Illinois Tool Works by 0.4% in the third quarter. Northern Trust Corp now owns 34,111,354 shares of the company’s stock worth $4,087,905,000 after buying an additional 121,298 shares during the period. Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 1.4% in the second quarter. Vanguard Group Inc. now owns 21,049,488 shares of the company’s stock valued at $2,192,515,000 after buying an additional 287,704 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Illinois Tool Works by 2.1% in the third quarter. Wells Fargo & Company MN now owns 8,220,678 shares of the company’s stock valued at $985,166,000 after buying an additional 170,277 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Illinois Tool Works by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,507,512 shares of the company’s stock valued at $677,823,000 after buying an additional 207,550 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Illinois Tool Works by 2.3% in the third quarter. BlackRock Fund Advisors now owns 3,742,998 shares of the company’s stock valued at $448,561,000 after buying an additional 84,841 shares during the last quarter. Institutional investors and hedge funds own 75.34% of the company’s stock.
ITW has been the subject of several analyst reports. Goldman Sachs Group Inc. lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 target price for the company. in a report on Monday. They noted that the move was a valuation call. Jefferies Group increased their target price on shares of Illinois Tool Works from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Friday, September 16th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $102.00 price target on shares of Illinois Tool Works in a research note on Thursday, August 25th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $111.07.
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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