Rhumbline Advisers Purchases 3,160 Shares of Illinois Tool Works Inc. (ITW)
Rhumbline Advisers lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 572,368 shares of the industrial products company’s stock after buying an additional 3,160 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Illinois Tool Works worth $84,688,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Omnia Family Wealth LLC grew its holdings in shares of Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares in the last quarter. Private Vista LLC grew its holdings in shares of Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after buying an additional 277,508 shares in the last quarter. Harding Loevner LP purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP grew its holdings in shares of Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after buying an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.
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Illinois Tool Works Inc. (NYSE:ITW) opened at $159.62 on Thursday. The firm has a market cap of $54,630.84, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works Inc. has a 12-month low of $120.06 and a 12-month high of $159.96.
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 for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. equities research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.95%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.78%.
ITW has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $155.00 price target (up 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. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Argus reiterated 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. J P Morgan Chase & Co upgraded shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $132.00 to $140.00 in a report on Tuesday, October 10th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and an average price target of $157.27.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on 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 SEC, which can be accessed through the SEC website. Also, VP Norman D. Jr. Finch purchased 4,986 shares of Illinois Tool Works stock in a transaction on Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the transaction, the vice president now owns 4,371 shares of the company’s stock, valued at $683,362.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 126,506 shares of company stock worth $19,801,832. 0.90% of the stock is currently owned by corporate insiders.
About Illinois Tool Works
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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