Illinois Tool Works Inc. (ITW) Shares Bought by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,736 shares of the industrial products company’s stock after acquiring an additional 601 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Illinois Tool Works were worth $9,726,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in ITW. BlackRock Inc. grew its position in shares of Illinois Tool Works by 1,661.3% during the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Illinois Tool Works during the 1st quarter worth $6,838,000. Investment Centers of America Inc. grew its position in shares of Illinois Tool Works by 25.0% during the 1st quarter. Investment Centers of America Inc. now owns 4,689 shares of the industrial products company’s stock worth $623,000 after buying an additional 937 shares in the last quarter. Paloma Partners Management Co grew its position in shares of Illinois Tool Works by 113.6% during the 1st quarter. Paloma Partners Management Co now owns 16,236 shares of the industrial products company’s stock worth $2,151,000 after buying an additional 8,635 shares in the last quarter. Finally, Fiduciary Trust Co. grew its position in shares of Illinois Tool Works by 5.7% during the 1st quarter. Fiduciary Trust Co. now owns 130,298 shares of the industrial products company’s stock worth $17,261,000 after buying an additional 7,081 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE ITW) traded down $1.15 during trading on Wednesday, reaching $163.88. The company’s stock had a trading volume of 1,481,200 shares, compared to its average volume of 1,209,300. 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 52 week low of $120.06 and a 52 week high of $169.69. The stock has a market capitalization of $56,539.11, a PE ratio of 26.19, a PEG ratio of 2.47 and a beta of 1.18.
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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.
A number of research firms have recently issued reports on ITW. Bank of America started coverage on Illinois Tool Works in a research report on Monday. They set a “buy” rating and a $190.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and set a $166.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, December 5th. BMO Capital Markets upped their price objective on Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Robert W. Baird restated a “hold” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Sunday, December 3rd. Finally, Wells Fargo & Company set a $190.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $164.38.
In other Illinois Tool Works news, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction dated Wednesday, October 25th. The stock was 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 directly owns 95,328 shares in the company, valued at $14,984,608.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Harold B. Smith sold 30,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,324 shares of company stock valued at $35,645,914. 0.90% of the stock is currently owned by company insiders.
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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.
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