Bp Plc Decreases Holdings in Illinois Tool Works Inc. (ITW)

Bp Plc reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 25.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,000 shares of the industrial products company’s stock after selling 14,000 shares during the period. Bp Plc’s holdings in Illinois Tool Works were worth $6,065,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wayne Hummer Investments L.L.C. raised its holdings in shares of Illinois Tool Works by 75.9% during the first quarter. Wayne Hummer Investments L.L.C. now owns 10,819 shares of the industrial products company’s stock valued at $1,433,000 after buying an additional 4,669 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Illinois Tool Works by 16.6% during the first quarter. Victory Capital Management Inc. now owns 19,757 shares of the industrial products company’s stock valued at $2,617,000 after buying an additional 2,812 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Illinois Tool Works by 1.6% during the first quarter. Schroder Investment Management Group now owns 207,523 shares of the industrial products company’s stock valued at $27,520,000 after buying an additional 3,231 shares during the last quarter. Cibc World Markets Corp raised its holdings in shares of Illinois Tool Works by 50.3% during the first quarter. Cibc World Markets Corp now owns 32,564 shares of the industrial products company’s stock valued at $4,314,000 after buying an additional 10,892 shares during the last quarter. Finally, WBI Investments Inc. raised its holdings in shares of Illinois Tool Works by 0.4% during the first quarter. WBI Investments Inc. now owns 17,610 shares of the industrial products company’s stock valued at $2,333,000 after buying an additional 72 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

ITW has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. Royal Bank Of Canada boosted their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Morgan Stanley boosted their target price on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Illinois Tool Works presently has an average rating of “Hold” and an average price target of $157.27.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the transaction, the insider now directly owns 18,622 shares in the company, valued at approximately $2,886,410. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Norman D. Jr. Finch acquired 4,986 shares of the stock in a transaction on Wednesday, October 25th. The shares were purchased at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the transaction, the vice president now owns 4,371 shares in the company, valued at approximately $683,362.14. The disclosure for this purchase can be found here. Insiders sold 126,506 shares of company stock worth $19,801,832 in the last ninety days. 0.90% of the stock is owned by corporate insiders.

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Illinois Tool Works Inc. (NYSE ITW) opened at $157.61 on Tuesday. The stock has a market capitalization of $53,836.01, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a twelve month low of $120.06 and a twelve month high of $159.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. equities research analysts forecast that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.98%. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

Illinois Tool Works 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.

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

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