Country Trust Bank Acquires New Position in Illinois Tool Works Inc. (ITW)

Country Trust Bank acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,547 shares of the industrial products company’s stock, valued at approximately $2,892,000.

Other hedge funds have also recently bought and sold shares of the company. Omnia Family Wealth LLC lifted its stake in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2 shares in the last quarter. Harding Loevner LP purchased a new stake in Illinois Tool Works during the second quarter valued at about $115,000. WFG Advisors LP lifted its stake in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after buying an additional 161 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after buying an additional 17 shares in the last quarter. Finally, Atlantic Trust LLC purchased a new stake in Illinois Tool Works during the second quarter valued at about $139,000. 75.03% of the stock is owned by institutional investors.

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In other Illinois Tool Works news, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Norman D. Jr. Finch bought 4,986 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were bought at an average cost of $156.34 per share, with a total value of $779,511.24. Following the transaction, the vice president now directly owns 4,371 shares of the company’s stock, valued at $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 90 days. 0.90% of the stock is currently owned by corporate insiders.

Illinois Tool Works Inc. (NYSE:ITW) opened at $155.85 on Thursday. Illinois Tool Works Inc. has a twelve month low of $120.06 and a twelve month high of $159.36. The company has a market capitalization of $54,315.64, a P/E ratio of 25.17, a P/E/G ratio of 2.37 and a beta of 1.16. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.00%. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

ITW has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Royal Bank Of Canada upped their price objective on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $170.00 price objective (up from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $136.00 target price (down previously from $140.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $157.27.

Illinois Tool Works Company 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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