TD Asset Management Inc. Raises Stake in Illinois Tool Works Inc. (ITW)
TD Asset Management Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 302,393 shares of the company’s stock after buying an additional 21,085 shares during the period. TD Asset Management Inc. owned 0.09% of Illinois Tool Works worth $36,239,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ITW. Hudock Capital Group LLC increased its position in shares of Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Taylor Wealth Management Partners increased its position in shares of Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock valued at $129,000 after buying an additional 225 shares in the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at $138,000. Archford Capital Strategies LLC increased its position in shares of Illinois Tool Works by 1,008.5% in the second quarter. Archford Capital Strategies LLC now owns 1,175 shares of the company’s stock valued at $122,000 after buying an additional 1,069 shares in the last quarter. Finally, Acropolis Investment Management LLC purchased a new position in shares of Illinois Tool Works during the second quarter valued at $128,000. 74.51% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.45% on Monday, reaching $125.20. 452,739 shares of the company’s stock were exchanged. Illinois Tool Works Inc. has a one year low of $79.15 and a one year high of $125.77. The firm has a market cap of $43.95 billion, a PE ratio of 22.86 and a beta of 1.06. The firm has a 50 day moving average price of $117.87 and a 200 day moving average price of $113.72.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $5.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.07%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.45%.
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ITW has been the topic of several analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $102.00 price target on shares of Illinois Tool Works in a report on Thursday, August 25th. Jefferies Group reissued a “buy” rating on shares of Illinois Tool Works in a report on Monday, October 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Friday, September 16th. Finally, Goldman Sachs Group Inc. downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 target price on the stock. in a report on Monday, November 21st. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $111.07.
In other news, insider Sundaram Nagarajan sold 34,299 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $122.62, for a total transaction of $4,205,743.38. Following the transaction, the insider now owns 54,516 shares in the company, valued at approximately $6,684,751.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay L. Henderson bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average price of $111.94 per share, for a total transaction of $447,760.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $447,760. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
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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