Achmea Investment Management B.V. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,160 shares of the industrial products company’s stock after selling 19,431 shares during the quarter. Achmea Investment Management B.V.’s holdings in Illinois Tool Works were worth $6,933,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ITW. Fisher Asset Management LLC raised its holdings in 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 acquiring an additional 395 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in 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 acquiring an additional 800 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Illinois Tool Works by 33.9% in the second quarter. State of Alaska Department of Revenue now owns 55,442 shares of the industrial products company’s stock valued at $7,678,000 after acquiring an additional 14,048 shares in the last quarter. Ledyard National Bank raised its holdings in Illinois Tool Works by 18.2% in the second quarter. Ledyard National Bank now owns 7,747 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 1,192 shares in the last quarter. Finally, Gofen & Glossberg LLC IL raised its holdings in Illinois Tool Works by 3.2% in the second quarter. Gofen & Glossberg LLC IL now owns 27,888 shares of the industrial products company’s stock valued at $3,864,000 after acquiring an additional 860 shares in the last quarter. Institutional investors own 76.56% of the company’s stock.
Several analysts recently issued reports on the stock. MED cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Thursday, July 12th. Robert W. Baird dropped their target price on shares of Illinois Tool Works from $155.00 to $141.00 and set a “hold” rating on the stock in a report on Tuesday, July 24th. Citigroup set a $166.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $156.00 to $145.00 and set a “hold” rating on the stock in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $150.18.
Shares of NYSE:ITW opened at $133.81 on Friday. The firm has a market cap of $43.70 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. Illinois Tool Works Inc. has a 1-year low of $119.38 and a 1-year high of $179.07. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 business 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%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.99%. Illinois Tool Works’s dividend payout ratio is currently 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 buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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