First Trust Advisors LP Buys 108,697 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First Trust Advisors LP increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 18.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 689,810 shares of the industrial products company’s stock after purchasing an additional 108,697 shares during the period. First Trust Advisors LP owned approximately 0.21% of Illinois Tool Works worth $107,948,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. OLD Point Trust & Financial Services N A bought a new position in Illinois Tool Works in the second quarter valued at $201,000. Rockland Trust Co. grew its position in Illinois Tool Works by 7.9% in the second quarter. Rockland Trust Co. now owns 4,430 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 323 shares in the last quarter. DNB Asset Management AS grew its position in Illinois Tool Works by 14.7% in the second quarter. DNB Asset Management AS now owns 80,951 shares of the industrial products company’s stock valued at $12,208,000 after purchasing an additional 10,363 shares in the last quarter. WINTON GROUP Ltd grew its position in Illinois Tool Works by 70.3% in the second quarter. WINTON GROUP Ltd now owns 126,431 shares of the industrial products company’s stock valued at $19,067,000 after purchasing an additional 52,193 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its position in Illinois Tool Works by 9.2% in the second quarter. Carroll Financial Associates Inc. now owns 3,332 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

ITW has been the subject of a number of analyst reports. Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price for the company. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Wells Fargo & Co raised their target price on shares of Illinois Tool Works from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Credit Suisse Group raised their target price on shares of Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, October 28th. Finally, UBS Group raised their target price on shares of Illinois Tool Works from $154.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Six equities 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. Illinois Tool Works has an average rating of “Hold” and an average target price of $150.57.

Shares of ITW stock opened at $176.41 on Friday. The stock has a market cap of $56.63 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.99 and a beta of 1.22. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.81 and a quick ratio of 2.27. The company has a fifty day moving average price of $160.07 and a two-hundred day moving average price of $153.13. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $179.29.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.10. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Monday, December 30th. Illinois Tool Works’s dividend payout ratio is currently 56.32%.

In other Illinois Tool Works news, EVP Andrew Mines sold 12,995 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $167.71, for a total value of $2,179,391.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Zimmerman sold 6,600 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $172.43, for a total transaction of $1,138,038.00. Following the completion of the sale, the executive vice president now owns 13,590 shares of the company’s stock, valued at approximately $2,343,323.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 346,180 shares of company stock valued at $57,725,646. Corporate insiders own 0.87% of the company’s stock.

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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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