Illinois Tool Works Inc. (ITW) Shares Sold by Rockefeller Financial Services Inc.
Rockefeller Financial Services Inc. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 620,036 shares of the industrial products company’s stock after selling 8,000 shares during the quarter. Illinois Tool Works makes up approximately 1.7% of Rockefeller Financial Services Inc.’s holdings, making the stock its 16th biggest holding. Rockefeller Financial Services Inc. owned about 0.18% of Illinois Tool Works worth $91,740,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock worth $3,241,417,000 after acquiring an additional 500,583 shares during the last quarter. BlackRock Inc. grew its holdings in Illinois Tool Works by 5.8% during the 2nd quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock worth $2,927,540,000 after acquiring an additional 1,118,381 shares during the last quarter. FMR LLC grew its holdings in Illinois Tool Works by 13.7% during the 2nd quarter. FMR LLC now owns 3,920,539 shares of the industrial products company’s stock worth $561,618,000 after acquiring an additional 471,369 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Illinois Tool Works by 2,939.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after acquiring an additional 3,628,722 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Illinois Tool Works by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after purchasing an additional 203,294 shares during the period. 75.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Norman D. Jr. Finch bought 4,986 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were purchased at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the acquisition, the vice president now owns 4,371 shares of the company’s stock, valued at approximately $683,362.14. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 126,506 shares of company stock worth $19,801,832 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.
WARNING: This article was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/11/08/illinois-tool-works-inc-itw-shares-sold-by-rockefeller-financial-services-inc.html.
Shares of Illinois Tool Works Inc. (ITW) opened at $157.83 on Wednesday. The firm has a market cap of $54,127.22, a P/E ratio of 25.08, a P/E/G ratio of 2.36 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 52-week low of $115.00 and a 52-week high of $159.36.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. research analysts predict that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.98%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank Of Canada upped their target price on shares of Illinois Tool Works from $143.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 24th. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Argus restated a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Finally, Credit Suisse Group cut their target price on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $157.27.
Illinois Tool Works 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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Stock Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related stocks with our FREE daily email newsletter.