SRN Advisors LLC Grows Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

SRN Advisors LLC raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,731 shares of the industrial products company’s stock after purchasing an additional 172 shares during the period. SRN Advisors LLC’s holdings in Illinois Tool Works were worth $1,001,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the period. Norges Bank purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $818,408,000. Fisher Asset Management LLC increased its holdings in shares of Illinois Tool Works by 4.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after buying an additional 122,840 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Illinois Tool Works by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,363 shares of the industrial products company’s stock worth $353,715,000 after buying an additional 26,089 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Illinois Tool Works by 11.0% in the fourth quarter. Schroder Investment Management Group now owns 1,001,113 shares of the industrial products company’s stock worth $262,232,000 after buying an additional 99,175 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ITW. Jefferies Financial Group decreased their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a report on Wednesday. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $248.67.

Illinois Tool Works Stock Up 0.7 %

Illinois Tool Works stock traded up $1.59 during trading hours on Friday, hitting $243.85. 1,281,644 shares of the stock traded hands, compared to its average volume of 1,134,753. The firm’s 50-day moving average price is $240.94 and its two-hundred day moving average price is $251.04. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17. The company has a market cap of $72.76 billion, a PE ratio of 24.05, a PEG ratio of 3.80 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.