Maple Capital Management Inc. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,391 shares of the industrial products company’s stock after selling 175 shares during the period. Maple Capital Management Inc.’s holdings in Illinois Tool Works were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of ITW. Oregon Public Employees Retirement Fund grew its stake in Illinois Tool Works by 12,441.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 9,962,137 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Illinois Tool Works by 27.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock valued at $1,117,426,000 after acquiring an additional 1,907,471 shares during the period. Bank of New York Mellon Corp grew its stake in Illinois Tool Works by 20.9% in the third quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock valued at $677,888,000 after acquiring an additional 830,998 shares during the period. Bessemer Group Inc. grew its stake in Illinois Tool Works by 3,024.5% in the fourth quarter. Bessemer Group Inc. now owns 749,011 shares of the industrial products company’s stock valued at $94,892,000 after acquiring an additional 725,039 shares during the period. Finally, BlackRock Inc. grew its stake in Illinois Tool Works by 2.5% in the third quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock valued at $3,004,489,000 after acquiring an additional 528,550 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Sundaram Nagarajan sold 18,651 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the sale, the insider now owns 44,954 shares in the company, valued at $6,192,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the sale, the insider now owns 71,927 shares in the company, valued at approximately $10,486,237.33. The disclosure for this sale can be found here. Insiders have sold 128,970 shares of company stock worth $18,348,472 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on ITW shares. Deutsche Bank reissued a “hold” rating on shares of Illinois Tool Works in a research note on Monday, December 3rd. Credit Suisse Group reissued a “hold” rating and issued a $131.00 target price on shares of Illinois Tool Works in a research note on Friday, December 7th. Morgan Stanley cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $131.00 to $115.00 in a research report on Tuesday, December 18th. JPMorgan Chase & Co. cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Thursday, January 10th. Finally, Citigroup cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price objective for the company. in a research report on Monday, January 14th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $136.60.
ITW stock opened at $143.18 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. The stock has a market cap of $46.98 billion, a PE ratio of 18.84, a PEG ratio of 2.35 and a beta of 1.20. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $171.83.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. Illinois Tool Works’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 29th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.00 annualized dividend and a yield of 2.79%. Illinois Tool Works’s payout ratio is presently 52.63%.
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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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