MML Investors Services LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.1% in the first quarter, Holdings Channel reports. The institutional investor owned 9,471 shares of the industrial products company’s stock after acquiring an additional 945 shares during the quarter. MML Investors Services LLC’s holdings in Illinois Tool Works were worth $1,359,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $318,000. Pinnacle Bank acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $201,000. Massmutual Trust Co. FSB ADV increased its holdings in Illinois Tool Works by 35.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,845 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 485 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Illinois Tool Works in the 1st quarter valued at approximately $1,071,000. Finally, Headinvest LLC increased its holdings in Illinois Tool Works by 100.0% in the 4th quarter. Headinvest LLC now owns 3,720 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 77.59% of the company’s stock.
Several equities analysts have commented on the stock. Argus raised their price target on shares of Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets decreased their price target on shares of Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a research report on Monday, February 25th. Finally, JPMorgan Chase & Co. raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their price target for the company from $120.00 to $144.00 in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $142.59.
ITW stock traded down $0.91 during midday trading on Wednesday, hitting $151.49. The company’s stock had a trading volume of 239,029 shares, compared to its average volume of 1,396,863. The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 1.87. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $158.69. The stock has a market capitalization of $50.35 billion, a PE ratio of 19.93, a P/E/G ratio of 2.47 and a beta of 1.24.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Analysts expect that Illinois Tool Works Inc. will post 7.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.64%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.
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.
Further Reading: Why is insider trading harmful?
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.