Bokf Na decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,967 shares of the industrial products company’s stock after selling 1,794 shares during the quarter. Bokf Na’s holdings in Illinois Tool Works were worth $2,783,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Pearl River Capital LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $25,000. Rational Advisors LLC increased its holdings in shares of Illinois Tool Works by 1,492.3% in the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after buying an additional 194 shares during the last quarter. Focused Wealth Management Inc bought a new position in shares of Illinois Tool Works in the 4th quarter worth $38,000. Athena Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $41,000. Finally, Berman Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $43,000. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on ITW shares. Deutsche Bank reissued a “hold” rating on shares of Illinois Tool Works in a report on Monday, December 3rd. Credit Suisse Group reissued a “hold” rating and issued a $131.00 price target on shares of Illinois Tool Works in a report on Friday, December 7th. Morgan Stanley lowered 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 report on Tuesday, December 18th. JPMorgan Chase & Co. lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price target on the stock. in a report on Thursday, January 10th. Finally, Citigroup lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price target on the stock. in a report on Monday, January 14th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $136.60.
ITW stock opened at $144.90 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $171.83. The firm has a market cap of $47.65 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm earned $1.70 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts expect that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 29th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 52.63%.
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Illinois Tool Works Company 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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