Illinois Tool Works Inc. (ITW) Position Held by Gulf International Bank UK Ltd
Gulf International Bank UK Ltd maintained its stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,893 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Illinois Tool Works were worth $11,971,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Hudock Capital Group LLC increased its stake 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 in the last quarter. Archford Capital Strategies LLC increased its position in 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 during the period. Acropolis Investment Management LLC purchased a new position in Illinois Tool Works during the second quarter valued at $128,000. Farmers National Bank purchased a new position in Illinois Tool Works during the second quarter valued at $129,000. Finally, Kernodle & Katon Asset Management Group LLC increased its position in Illinois Tool Works by 85.8% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 1,293 shares of the company’s stock valued at $135,000 after buying an additional 597 shares during the period. Institutional investors own 74.51% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.61% during midday trading on Tuesday, reaching $125.63. The company had a trading volume of 588,288 shares. The firm’s 50 day moving average price is $118.09 and its 200-day moving average price is $114.00. The company has a market capitalization of $44.10 billion, a P/E ratio of 22.94 and a beta of 1.06. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $125.88.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. Illinois Tool Works had a net margin of 14.68% and a return on equity of 39.18%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company earned $1.39 EPS. Illinois Tool Works’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.45%.
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A number of brokerages recently commented on ITW. Goldman Sachs Group Inc. downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective on the stock. in a research report on Monday, November 21st. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research report on Monday, October 24th. Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $111.07.
In other news, Director Jay L. Henderson purchased 4,000 shares of the stock in a transaction dated Tuesday, October 25th. The shares were purchased at an average cost of $111.94 per share, with a total value of $447,760.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $447,760. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sundaram Nagarajan sold 34,299 shares of the company’s 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 completion of the transaction, the insider now owns 54,516 shares in the company, valued at $6,684,751.92. The disclosure for this sale can be found here. Company 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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