South State Corp boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,733 shares of the industrial products companyâ€™s stock after buying an additional 368 shares during the quarter. South State Corpâ€™s holdings in Illinois Tool Works were worth $600,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Cornerstone Wealth Management LLC lifted its position in Illinois Tool Works by 50.0% in the third quarter. Cornerstone Wealth Management LLC now owns 177,653 shares of the industrial products companyâ€™s stock worth $1,171,000 after buying an additional 59,196 shares during the last quarter. Fisher Asset Management LLC lifted its position in Illinois Tool Works by 14.3% in the third quarter. Fisher Asset Management LLC now owns 4,156 shares of the industrial products companyâ€™s stock worth $587,000 after buying an additional 521 shares during the last quarter. IFP Advisors Inc lifted its position in Illinois Tool Works by 31.2% in the third quarter. IFP Advisors Inc now owns 5,618 shares of the industrial products companyâ€™s stock worth $793,000 after buying an additional 1,337 shares during the last quarter. Alps Advisors Inc. bought a new stake in Illinois Tool Works in the third quarter worth $1,197,000. Finally, Oppenheimer & Co. Inc. lifted its position in Illinois Tool Works by 41.6% in the third quarter. Oppenheimer & Co. Inc. now owns 8,564 shares of the industrial products companyâ€™s stock worth $1,209,000 after buying an additional 2,518 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Illinois Tool Works news, EVP John R. Hartnett sold 14,500 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total value of $1,986,500.00. Following the transaction, the executive vice president now owns 29,448 shares in the company, valued at $4,034,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juan Valls sold 52,265 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total value of $7,443,058.65. Following the completion of the transaction, the executive vice president now owns 78,620 shares in the company, valued at approximately $11,196,274.20. The disclosure for this sale can be found here. Insiders sold 128,970 shares of company stock valued at $18,348,472 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.
ITW stock opened at $141.65 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $46.48 billion, a P/E ratio of 18.64, a PEG ratio of 2.31 and a beta of 1.20. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $164.03.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.01. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The firmâ€™s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 earnings per share. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Illinois Tool Worksâ€™s payout ratio is currently 52.63%.
A number of analysts recently issued reports on ITW shares. Deutsche Bank restated a â€œholdâ€ rating on shares of Illinois Tool Works in a research report on Monday, December 3rd. Credit Suisse Group reiterated a â€œholdâ€ rating and set a $131.00 target price on shares of Illinois Tool Works in a research report on Friday, December 7th. Morgan Stanley downgraded Illinois Tool Works from an â€œequal weightâ€ rating to an â€œunderweightâ€ rating and decreased their target price for the stock from $131.00 to $115.00 in a research report on Tuesday, December 18th. JPMorgan Chase & Co. downgraded Illinois Tool Works from a â€œneutralâ€ rating to an â€œunderweightâ€ rating and set a $120.00 target price for the company. in a research report on Thursday, January 10th. Finally, Citigroup downgraded Illinois Tool Works from a â€œbuyâ€ rating to a â€œneutralâ€ rating and set a $144.00 target price for the company. in a research report on Monday, January 14th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of â€œHoldâ€ and an average target price of $136.60.
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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.
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