Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Captrust Financial Advisors
Captrust Financial Advisors grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 119.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,790 shares of the industrial products company’s stock after acquiring an additional 6,964 shares during the quarter. Captrust Financial Advisors’ holdings in Illinois Tool Works were worth $2,337,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of ITW. Greenleaf Trust boosted its stake in shares of Illinois Tool Works by 1.1% in the 4th quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock valued at $883,000 after buying an additional 54 shares during the period. Fiera Capital Corp lifted its stake in Illinois Tool Works by 4.6% during the fourth quarter. Fiera Capital Corp now owns 1,342 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 59 shares during the last quarter. Sage Capital Advisors llc lifted its stake in Illinois Tool Works by 3.0% during the fourth quarter. Sage Capital Advisors llc now owns 2,195 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 63 shares during the last quarter. Assetmark Inc. lifted its stake in Illinois Tool Works by 6.7% during the fourth quarter. Assetmark Inc. now owns 1,131 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 71 shares during the last quarter. Finally, SevenBridge Financial Group LLC lifted its stake in Illinois Tool Works by 5.4% during the fourth quarter. SevenBridge Financial Group LLC now owns 1,488 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.
ITW has been the subject of several recent analyst reports. BMO Capital Markets restated a “market perform” rating and set a $165.00 target price on shares of Illinois Tool Works in a research note on Tuesday, February 4th. Wells Fargo & Co decreased their target price on Illinois Tool Works from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. UBS Group boosted their target price on Illinois Tool Works from $168.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley upgraded Illinois Tool Works from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $154.00 to $132.00 in a research note on Monday. Finally, Deutsche Bank boosted their target price on Illinois Tool Works from $142.00 to $164.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $157.71.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.47 billion. Illinois Tool Works had a return on equity of 81.83% and a net margin of 17.87%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 7.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.
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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