Tower Research Capital LLC TRC Purchases New Stake in Illinois Tool Works Inc. (NYSE:ITW)

Tower Research Capital LLC TRC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,841 shares of the industrial products company’s stock, valued at approximately $601,000.

Other hedge funds have also recently bought and sold shares of the company. Hexavest Inc. acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at approximately $26,000. D Orazio & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $28,000. Asset Dedication LLC raised its position in shares of Illinois Tool Works by 105.3% during the 2nd quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $31,000. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $33,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Get Illinois Tool Works alerts:

In other news, EVP Andrew Mines sold 12,995 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $167.71, for a total value of $2,179,391.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 37,301 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 65,674 shares of the company’s stock, valued at approximately $11,275,569.06. The disclosure for this sale can be found here. In the last three months, insiders sold 346,180 shares of company stock valued at $57,725,646. Company insiders own 0.87% of the company’s stock.

Several equities research analysts recently issued reports on ITW shares. UBS Group upped their price target on Illinois Tool Works from $154.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Argus set a $180.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research report on Monday, October 28th. Citigroup dropped their target price on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Credit Suisse Group increased their target price on Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $150.57.

Shares of NYSE ITW opened at $175.16 on Friday. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $179.29. 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 business’s fifty day moving average price is $162.52 and its two-hundred day moving average price is $153.71. The firm has a market capitalization of $55.82 billion, a PE ratio of 22.61, a P/E/G ratio of 2.95 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $4.28 annualized dividend and a dividend yield of 2.44%. Illinois Tool Works’s payout ratio is 56.32%.

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: What is a Real Estate Investment Trust (REIT)?

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.