Bbva Compass Bancshares Inc. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,672 shares of the industrial products company’s stock after selling 2,005 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Illinois Tool Works were worth $1,365,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its holdings in shares of Illinois Tool Works by 43.9% in the second quarter. IFM Investors Pty Ltd now owns 13,966 shares of the industrial products company’s stock valued at $1,935,000 after purchasing an additional 4,262 shares in the last quarter. Cullinan Associates Inc. grew its holdings in shares of Illinois Tool Works by 32.6% in the second quarter. Cullinan Associates Inc. now owns 25,297 shares of the industrial products company’s stock valued at $3,505,000 after purchasing an additional 6,215 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Illinois Tool Works by 12.2% in the second quarter. Fisher Asset Management LLC now owns 3,635 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 395 shares in the last quarter. Osborn Williams & Donohoe LLC grew its holdings in shares of Illinois Tool Works by 17.2% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,042 shares of the industrial products company’s stock valued at $1,391,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Illinois Tool Works by 17.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,484 shares of the industrial products company’s stock valued at $760,000 after purchasing an additional 800 shares in the last quarter. 76.56% of the stock is currently owned by institutional investors and hedge funds.
NYSE ITW opened at $131.70 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.74 and a beta of 1.26. Illinois Tool Works Inc. has a 52 week low of $119.38 and a 52 week high of $179.07.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. Illinois Tool Works’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 earnings per share. Analysts predict that Illinois Tool Works Inc. will post 7.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, December 28th. Illinois Tool Works’s payout ratio is 60.70%.
Illinois Tool Works declared that its board has approved a stock repurchase program on Friday, August 3rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research firms recently weighed in on ITW. ValuEngine raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Deutsche Bank set a $152.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Thursday, July 12th. MED lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Thursday, July 12th. Finally, Morgan Stanley began coverage on shares of Illinois Tool Works in a report on Monday, August 20th. They issued an “equal weight” rating and a $146.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $150.18.
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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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