Illinois Tool Works Inc. (ITW) Stake Lessened by Grandfield & Dodd LLC
Grandfield & Dodd LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 171,900 shares of the industrial products company’s stock after selling 4,238 shares during the period. Illinois Tool Works accounts for 2.9% of Grandfield & Dodd LLC’s portfolio, making the stock its 3rd biggest position. Grandfield & Dodd LLC owned approximately 0.05% of Illinois Tool Works worth $25,434,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Illinois Tool Works by 2.3% in the second 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 in the last quarter. BlackRock Inc. boosted its holdings in Illinois Tool Works by 5.8% in the second 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 in the last quarter. FMR LLC boosted its holdings in Illinois Tool Works by 13.7% in the second 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 in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Illinois Tool Works by 2,939.8% during the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after purchasing an additional 3,628,722 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 7.1% during the first 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 in the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works 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 transaction, 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 sold a total of 126,506 shares of company stock worth $19,801,832 over the last quarter. Company insiders own 0.90% of the company’s stock.
A number of research analysts have recently issued reports on the company. Argus reaffirmed a “buy” rating and set a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. BidaskClub cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Morgan Stanley reiterated an “equal weight” rating and set a $136.00 price objective (down previously from $140.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Credit Suisse Group reduced their price objective on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $155.00 price objective (up previously from $143.00) on shares of Illinois Tool Works in a research report on Friday, October 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $157.27.
Illinois Tool Works Inc. (ITW) opened at $158.85 on Tuesday. The company has a market capitalization of $54,570.00, a price-to-earnings ratio of 24.94, a price-to-earnings-growth 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 $159.59. 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 announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business posted $1.50 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. equities analysts predict that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.96%. Illinois Tool Works’s dividend payout ratio is presently 47.85%.
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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