Illinois Tool Works Inc. (ITW) Shares Bought by First Hawaiian Bank

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First Hawaiian Bank boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,546 shares of the industrial products company’s stock after buying an additional 2,598 shares during the period. First Hawaiian Bank’s holdings in Illinois Tool Works were worth $1,716,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ITW. Massachusetts Financial Services Co. MA raised its holdings in Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock worth $975,518,000 after buying an additional 1,401,794 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Illinois Tool Works by 20.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after acquiring an additional 830,998 shares in the last quarter. BlackRock Inc. grew its stake in shares of Illinois Tool Works by 2.5% during the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock worth $3,004,489,000 after acquiring an additional 528,550 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $55,822,000. Finally, Schroder Investment Management Group grew its stake in shares of Illinois Tool Works by 68.0% during the 2nd quarter. Schroder Investment Management Group now owns 871,859 shares of the industrial products company’s stock worth $120,803,000 after acquiring an additional 352,757 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

NYSE:ITW opened at $130.31 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $179.07. The firm has a market capitalization of $43.13 billion, a P/E ratio of 19.77, a PEG ratio of 1.62 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the business posted $1.71 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.6 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Shareholders of record on Monday, December 31st were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.07%. Illinois Tool Works’s dividend payout ratio (DPR) is 60.70%.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 58,736 shares of Illinois Tool Works stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ernest Scott Santi sold 108,885 shares of Illinois Tool Works stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the transaction, the chief executive officer now directly owns 149,777 shares of the company’s stock, valued at $19,948,798.63. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Several equities analysts have recently weighed in on ITW shares. Seaport Global Securities cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $132.00 in a research note on Thursday, October 25th. ValuEngine cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Morgan Stanley cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $131.00 to $115.00 in a research note on Tuesday, December 18th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $131.00 price target on shares of Illinois Tool Works in a research note on Friday, December 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $143.94.

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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.

See Also: Why is insider trading harmful?

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

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