Intl Fcstone Inc. Invests $1.58 Million in Illinois Tool Works Inc. (ITW)
Intl Fcstone Inc. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,999 shares of the industrial products company’s stock, valued at approximately $1,576,000.
Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP increased its position in shares of Illinois Tool Works by 71.3% during the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after purchasing an additional 10,457 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at about $601,000. Ffcm LLC increased its position in shares of Illinois Tool Works by 6.4% during the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after purchasing an additional 714 shares during the last quarter. Oakmont Partners LLC grew its position in Illinois Tool Works by 51.1% during the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 5,362 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Illinois Tool Works by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after acquiring an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.
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In other news, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the transaction, the executive vice president now owns 71,101 shares in the company, valued at approximately $11,143,659.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now owns 95,328 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $157.99 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $113.23 and a fifty-two week high of $159.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The firm has a market capitalization of $53,890.82, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business posted $1.50 EPS. The business’s revenue was up 3.4% on a year-over-year basis. sell-side analysts forecast 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. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is presently 47.78%.
Several equities analysts recently issued reports on ITW shares. Stifel Nicolaus restated a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Royal Bank Of Canada raised their price target on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Morgan Stanley raised their price target on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $157.27.
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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