Ingalls & Snyder LLC Has $2.03 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Ingalls & Snyder LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,273 shares of the industrial products company’s stock after selling 800 shares during the period. Ingalls & Snyder LLC’s holdings in Illinois Tool Works were worth $2,025,000 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. Vanguard Group Inc. boosted its position in shares of Illinois Tool Works by 2.6% during the second quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock worth $3,935,459,000 after buying an additional 659,248 shares during the period. BlackRock Inc. boosted its position in Illinois Tool Works by 3.0% during the second quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock valued at $3,053,058,000 after purchasing an additional 581,489 shares during the last quarter. Bank of America Corp DE boosted its position in Illinois Tool Works by 2.6% during the second quarter. Bank of America Corp DE now owns 3,756,360 shares of the industrial products company’s stock valued at $566,496,000 after purchasing an additional 94,434 shares during the last quarter. Invesco Ltd. boosted its position in Illinois Tool Works by 179.7% during the second quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock valued at $322,590,000 after purchasing an additional 1,374,150 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Illinois Tool Works by 1.8% during the third quarter. Parametric Portfolio Associates LLC now owns 1,359,293 shares of the industrial products company’s stock valued at $212,716,000 after purchasing an additional 23,866 shares during the last quarter. 77.83% of the stock is owned by hedge funds and other institutional investors.

ITW has been the subject of several recent research reports. Wells Fargo & Co increased their price target on Illinois Tool Works from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley reduced their price target on Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating for the company in a research report on Wednesday, October 16th. Credit Suisse Group increased their price target on Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Citigroup reduced their price target on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Deutsche Bank increased their price target on Illinois Tool Works from $142.00 to $164.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $152.64.

NYSE:ITW opened at $178.41 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 2.57. The stock’s 50 day moving average price is $177.71 and its two-hundred day moving average price is $162.05. The firm has a market capitalization of $57.42 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 2.96 and a beta of 1.21. Illinois Tool Works Inc. has a 12-month low of $129.44 and a 12-month high of $182.34.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 25th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.10. The firm 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%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. Equities research analysts expect that Illinois Tool Works Inc. will post 7.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $4.28 annualized dividend and a yield of 2.40%. Illinois Tool Works’s dividend payout ratio is 56.32%.

In other news, CEO Ernest Scott Santi sold 152,594 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $169.05, for a total transaction of $25,796,015.70. Following the transaction, the chief executive officer now owns 150,922 shares in the company, valued at $25,513,364.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael R. Zimmerman sold 6,600 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $172.43, for a total value of $1,138,038.00. Following the transaction, the executive vice president now owns 13,590 shares in the company, valued at approximately $2,343,323.70. The disclosure for this sale can be found here. Insiders sold 245,669 shares of company stock worth $41,624,681 in the last 90 days. 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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