IFM Investors Pty Ltd Acquires 4,348 Shares of Illinois Tool Works Inc. (NYSE:ITW)


Share on StockTwits

IFM Investors Pty Ltd lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.5% in the 4th quarter, HoldingsChannel reports. The fund owned 30,639 shares of the industrial products company’s stock after purchasing an additional 4,348 shares during the period. IFM Investors Pty Ltd’s holdings in Illinois Tool Works were worth $6,247,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. SeaCrest Wealth Management LLC grew its position in Illinois Tool Works by 2.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,918 shares of the industrial products company’s stock worth $371,000 after purchasing an additional 48 shares in the last quarter. Simmons Bank grew its position in shares of Illinois Tool Works by 3.4% during the 3rd quarter. Simmons Bank now owns 1,535 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 50 shares during the period. Radnor Capital Management LLC grew its position in shares of Illinois Tool Works by 0.7% during the 4th quarter. Radnor Capital Management LLC now owns 7,734 shares of the industrial products company’s stock valued at $1,577,000 after acquiring an additional 50 shares during the period. Glassman Wealth Services grew its position in shares of Illinois Tool Works by 15.1% during the 3rd quarter. Glassman Wealth Services now owns 397 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 52 shares during the period. Finally, Albert D Mason Inc. grew its position in shares of Illinois Tool Works by 1.3% during the 3rd quarter. Albert D Mason Inc. now owns 4,271 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 53 shares during the period. 74.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ITW opened at $207.23 on Thursday. Illinois Tool Works Inc. has a 1 year low of $115.94 and a 1 year high of $224.69. The stock has a market cap of $65.59 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 4.48 and a beta of 1.08. The firm has a 50-day moving average of $205.48 and a 200 day moving average of $197.31. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 23rd. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.38. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 earnings per share. Research analysts expect that Illinois Tool Works Inc. will post 6.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, December 30th. Illinois Tool Works’s dividend payout ratio is currently 58.84%.

A number of equities analysts have recently commented on ITW shares. BMO Capital Markets increased their price target on shares of Illinois Tool Works from $205.00 to $225.00 in a report on Monday, October 26th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their target price for the company from $175.00 to $212.00 in a report on Thursday, October 29th. Morgan Stanley increased their target price on shares of Illinois Tool Works from $167.00 to $176.00 and gave the company an “underweight” rating in a report on Monday, October 26th. UBS Group raised shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and raised their price target for the stock from $211.00 to $232.00 in a report on Monday, January 4th. Finally, Vertical Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, January 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $190.24.

About Illinois Tool Works

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.

Recommended Story: How does equity income fit into an investing strategy?

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.