Illinois Tool Works Inc. (ITW) Position Reduced by Bremer Trust National Association
Bremer Trust National Association lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,053 shares of the industrial products company’s stock after selling 821 shares during the period. Illinois Tool Works makes up about 0.9% of Bremer Trust National Association’s holdings, making the stock its 24th biggest position. Bremer Trust National Association’s holdings in Illinois Tool Works were worth $3,115,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in Illinois Tool Works in the second quarter valued at approximately $601,000. Quantbot Technologies LP grew its stake in Illinois Tool Works by 71.3% in the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after acquiring an additional 10,457 shares during the period. Ffcm LLC grew its stake in Illinois Tool Works by 6.4% in the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after acquiring an additional 714 shares during the period. Oakmont Partners LLC grew its stake in Illinois Tool Works by 51.1% in the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 5,362 shares during the period. Finally, Sumitomo Life Insurance Co. grew its stake in Illinois Tool Works by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after acquiring an additional 786 shares during the period. 75.03% of the stock is owned by institutional investors and hedge funds.
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Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $157.14 on Monday. The company has a market capitalization of $53,836.01, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a fifty-two week low of $120.06 and a fifty-two week high of $159.36. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. Illinois Tool Works’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. analysts anticipate that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors 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 dividend on an annualized basis and a yield of 1.99%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the sale, the insider now directly owns 18,622 shares in the company, valued at $2,886,410. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. Insiders have sold 126,506 shares of company stock worth $19,801,832 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on the company. Argus reissued a “buy” rating and issued a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. BidaskClub lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Morgan Stanley restated an “equal weight” rating and issued a $136.00 target price (down previously from $140.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Credit Suisse Group dropped their target price on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $155.00 target price (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $157.27.
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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