Traders Sell Shares of Illinois Tool Works Inc. (ITW) on Strength (ITW)
Investors sold shares of Illinois Tool Works Inc. (NYSE:ITW) on strength during trading on Monday. $16.09 million flowed into the stock on the tick-up and $35.59 million flowed out of the stock on the tick-down, for a money net flow of $19.50 million out of the stock. Of all stocks tracked, Illinois Tool Works had the 26th highest net out-flow for the day. Illinois Tool Works traded up $0.07 for the day and closed at $151.70
A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Wednesday, July 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $141.00 to $132.00 in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $152.14.
The stock has a market capitalization of $52.21 billion, a PE ratio of 24.55 and a beta of 1.12. The company has a 50-day moving average of $142.89 and a 200-day moving average of $140.66.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.
In related news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ITW. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2 shares in the last quarter. Private Vista LLC boosted its stake in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares during the last quarter. Harding Loevner LP bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $115,000. WFG Advisors LP boosted its stake in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Illinois Tool Works by 88.3% in the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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