Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,647 shares of the industrial products company’s stock after acquiring an additional 125 shares during the period. Checchi Capital Advisers LLC’s holdings in Illinois Tool Works were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Invesco Ltd. lifted its stake in Illinois Tool Works by 179.7% during the 2nd quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock worth $322,590,000 after acquiring an additional 1,374,150 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Illinois Tool Works by 6,875.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,237,183 shares of the industrial products company’s stock worth $186,579,000 after acquiring an additional 1,219,446 shares in the last quarter. Vanguard Group Inc. lifted its stake in Illinois Tool Works by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock worth $3,935,459,000 after acquiring an additional 659,248 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Illinois Tool Works by 15,116.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock worth $66,117,000 after acquiring an additional 656,821 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Illinois Tool Works by 3.0% during the 2nd quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock worth $3,053,058,000 after acquiring an additional 581,489 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.69, for a total value of $6,404,208.69. Following the transaction, the insider now owns 65,674 shares in the company, valued at approximately $11,275,569.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Randall J. Scheuneman sold 11,977 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.63, for a total value of $2,055,612.51. Following the completion of the transaction, the chief accounting officer now owns 18,649 shares in the company, valued at approximately $3,200,727.87. The disclosure for this sale can be found here. Insiders sold a total of 346,180 shares of company stock worth $57,725,646 in the last ninety days. 0.87% of the stock is owned by corporate insiders.

Several research firms recently issued reports on ITW. Morgan Stanley increased their target price on Illinois Tool Works from $136.00 to $142.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research note on Monday, September 23rd. They noted that the move was a valuation call. UBS Group increased their target price on Illinois Tool Works from $154.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Wells Fargo & Co increased their target price on Illinois Tool Works from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Argus set a $180.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average price target of $150.57.

ITW stock opened at $173.38 on Thursday. 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 firm has a market capitalization of $56.32 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.97 and a beta of 1.22. The business’s 50-day moving average is $161.69 and its two-hundred day moving average is $153.49. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $179.29.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, December 30th. Illinois Tool Works’s dividend payout ratio is currently 56.32%.

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

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