Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Man Group plc
Man Group plc lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 89.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 225,254 shares of the industrial products company’s stock after acquiring an additional 106,149 shares during the quarter. Man Group plc owned 0.07% of Illinois Tool Works worth $40,462,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Ilmarinen Mutual Pension Insurance Co acquired a new stake in Illinois Tool Works during the third quarter worth about $13,302,000. Voya Investment Management LLC grew its holdings in shares of Illinois Tool Works by 1.0% during the third quarter. Voya Investment Management LLC now owns 124,243 shares of the industrial products company’s stock valued at $19,443,000 after purchasing an additional 1,206 shares during the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Illinois Tool Works by 1.4% during the third quarter. Voya Financial Advisors Inc. now owns 11,049 shares of the industrial products company’s stock valued at $1,712,000 after purchasing an additional 153 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its position in shares of Illinois Tool Works by 19.9% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 18,308 shares of the industrial products company’s stock worth $2,865,000 after purchasing an additional 3,038 shares during the period. Finally, Headinvest LLC raised its position in shares of Illinois Tool Works by 10.8% during the 3rd quarter. Headinvest LLC now owns 2,060 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 200 shares during the period. 80.01% of the stock is currently owned by institutional investors and hedge funds.
ITW has been the subject of a number of analyst reports. UBS Group boosted their price objective on Illinois Tool Works from $168.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. BMO Capital Markets restated a “market perform” rating and set a $165.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, February 4th. Deutsche Bank increased their target price on Illinois Tool Works from $142.00 to $164.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Wells Fargo & Co cut their target price on Illinois Tool Works from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Finally, Cfra boosted their price target on shares of Illinois Tool Works from $146.00 to $157.00 and gave the company a “sell” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $157.71.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, January 31st. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Illinois Tool Works had a return on equity of 81.83% and a net margin of 17.87%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 7.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.
Illinois Tool Works 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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