Illinois Tool Works Inc. (ITW) is Long Road Investment Counsel LLC’s 5th Largest Position
Long Road Investment Counsel LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the first quarter, Holdings Channel reports. The institutional investor owned 49,978 shares of the industrial products company’s stock after buying an additional 2,600 shares during the period. Illinois Tool Works makes up 4.4% of Long Road Investment Counsel LLC’s portfolio, making the stock its 5th biggest holding. Long Road Investment Counsel LLC’s holdings in Illinois Tool Works were worth $7,173,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of ITW. Pearl River Capital LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $25,000. Rational Advisors LLC lifted its position in Illinois Tool Works by 1,492.3% during the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 194 shares in the last quarter. WP Advisors LLC acquired a new position in Illinois Tool Works during the 1st quarter worth approximately $28,000. Focused Wealth Management Inc acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $38,000. Finally, Athena Capital Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $41,000. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the sale, the insider now directly owns 71,927 shares in the company, valued at approximately $10,486,237.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John R. Hartnett sold 14,323 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the sale, the executive vice president now owns 31,695 shares of the company’s stock, valued at $4,866,767.25. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.90 EPS. Illinois Tool Works’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Illinois Tool Works Inc. will post 7.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be issued a $1.00 dividend. The ex-dividend date is Thursday, June 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.74%. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.
ITW has been the topic of several recent research reports. BMO Capital Markets reduced their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a research report on Monday, February 25th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised Illinois Tool Works from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $120.00 to $144.00 in a research report on Friday, April 26th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $128.00 to $124.00 in a research report on Tuesday, February 5th. Finally, UBS Group boosted their price target on Illinois Tool Works from $137.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $142.59.
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About Illinois Tool Works
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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