Goodwin Investment Advisory bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 289 shares of the industrial products company’s stock, valued at approximately $64,000.
Other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Diversified LLC bought a new position in Illinois Tool Works in the fourth quarter valued at about $27,000. MPS Loria Financial Planners LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Bogart Wealth LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at about $31,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Illinois Tool Works by 259.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 176 shares of the industrial products company’s stock valued at $36,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 77.44% of the company’s stock.
In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,820 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $237.32, for a total value of $1,618,522.40. Following the completion of the sale, the chief accounting officer now owns 14,622 shares of the company’s stock, valued at $3,470,093.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, April 30th. The industrial products company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.21. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 6.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $4.56 dividend on an annualized basis and a yield of 1.91%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.84%.
Several brokerages have recently weighed in on ITW. BMO Capital Markets increased their price target on Illinois Tool Works from $225.00 to $235.00 and gave the company a “market perform” rating in a research note on Monday, May 10th. Robert W. Baird increased their price target on Illinois Tool Works from $214.00 to $229.00 and gave the company a “neutral” rating in a research note on Friday, April 30th. Barclays increased their price target on Illinois Tool Works from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $217.00 to $227.00 and gave the company a “hold” rating in a research note on Monday, May 10th. Finally, JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $203.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and an average price target of $223.63.
Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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