Illinois Tool Works Inc. (ITW) Holdings Reduced by Shelter Mutual Insurance Co
Shelter Mutual Insurance Co reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,740 shares of the industrial products company’s stock after selling 5,200 shares during the period. Illinois Tool Works comprises approximately 2.6% of Shelter Mutual Insurance Co’s holdings, making the stock its 19th biggest holding. Shelter Mutual Insurance Co’s holdings in Illinois Tool Works were worth $8,247,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ITW. Omnia Family Wealth LLC boosted its holdings in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the last quarter. Harding Loevner LP acquired a new position in shares of Illinois Tool Works during the 2nd quarter valued at $115,000. WFG Advisors LP lifted its holdings in shares of Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares in the last quarter. Finally, Atlantic Trust LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter valued at $139,000. 74.71% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on ITW. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $147.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Robert W. Baird set a $145.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, BidaskClub lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $157.27.
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Shares of Illinois Tool Works Inc. (ITW) opened at $158.85 on Tuesday. 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 1 year low of $120.06 and a 1 year high of $159.59. The firm has a market cap of $54,570.00, a PE ratio of 24.94, a P/E/G ratio of 2.35 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. Illinois Tool Works’s quarterly revenue was up 3.4% on a year-over-year basis. research analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 47.85%.
In other news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the sale, the insider now directly owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is owned by 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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