Illinois Tool Works Inc. (ITW) Stake Boosted by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,128 shares of the industrial products company’s stock after acquiring an additional 402 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Illinois Tool Works were worth $1,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Omnia Family Wealth LLC increased its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the period. Hudock Capital Group LLC increased its holdings in Illinois Tool Works by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after buying an additional 5 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock worth $521,000 after buying an additional 10 shares during the period. Washington Trust Bank increased its holdings in Illinois Tool Works by 1.1% in the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares during the period. Finally, Rowland & Co. Investment Counsel ADV increased its holdings in Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock worth $518,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 75.03% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at $158.54 on Wednesday. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $159.36. The stock has a market capitalization of $53,997.03, a P/E ratio of 25.02, a PEG ratio of 2.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $1.50 EPS. The business’s revenue was up 3.4% on a year-over-year basis. analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.97%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.78%.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders have sold a total of 126,506 shares of company stock worth $19,801,832 in the last quarter. Insiders own 0.90% of the company’s stock.

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ITW has been the topic of several research reports. BMO Capital Markets reiterated a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Royal Bank Of Canada increased their price target on shares of Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $136.00 price objective (down previously from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $157.27.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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

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