Dimensional Fund Advisors LP trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 846,231 shares of the industrial products company’s stock after selling 852 shares during the period. Dimensional Fund Advisors LP owned about 0.25% of Illinois Tool Works worth $125,204,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of Illinois Tool Works in the second quarter valued at $601,000. Quantbot Technologies LP lifted its stake in shares of Illinois Tool Works by 71.3% in the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after buying an additional 10,457 shares in the last quarter. Ffcm LLC lifted its stake in shares of Illinois Tool Works by 6.4% in the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after buying an additional 714 shares in the last quarter. Oakmont Partners LLC lifted its stake in shares of Illinois Tool Works by 51.1% in the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 5,362 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of Illinois Tool Works by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 786 shares in the last quarter. 74.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at $14,984,608.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Insiders have sold 221,324 shares of company stock valued at $35,645,914 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company posted $1.50 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued 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 yield of 1.89%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.
A number of research firms have weighed in on ITW. Bank of America began coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 price objective on the stock. Royal Bank of Canada reissued a “hold” rating and set a $166.00 price target on shares of Illinois Tool Works in a research report on Tuesday, December 5th. BMO Capital Markets raised their price target on shares of Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Robert W. Baird reissued a “hold” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Sunday, December 3rd. Finally, Wells Fargo & Company set a $190.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $164.38.
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Illinois Tool Works Company Profile
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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