4,527 Illinois Tool Works Inc. $ITW Shares Bought by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its ITW stake by 244.6% in the third quarter, buying 4,527 shares to hold 6,378 shares valued at about $1.64 million. Institutional investors collectively own 79.77% of the company.
• Illinois Tool Works reported quarterly EPS of $3.00, beating estimates of $2.97, while revenue of $4.24 billion fell slightly short of forecasts; revenue rose 4.5% year over year.
• Analyst sentiment is cautious: one analyst rates ITW Buy, seven Hold, and five Sell, with an average rating of “Reduce” and a consensus price target of $276.33. The company announced a quarterly dividend of $1.72 per share, a 2.4% annualized yield.

International Assets Investment Management LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 244.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,378 shares of the industrial products company's stock after buying an additional 4,527 shares during the period. International Assets Investment Management LLC's holdings in Illinois Tool Works were worth $1,641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG purchased a new stake in Illinois Tool Works in the 2nd quarter valued at about $5,017,000. Sanctuary Advisors LLC acquired a new position in Illinois Tool Works in the second quarter valued at about $14,028,000. Cibc World Market Inc. purchased a new position in Illinois Tool Works during the second quarter worth about $3,887,000. Sapient Capital LLC boosted its stake in Illinois Tool Works by 227.7% during the second quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company's stock worth $3,703,000 after buying an additional 9,457 shares during the period. Finally, Fidelity National Financial Inc. purchased a new position in Illinois Tool Works during the second quarter worth about $20,583,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ITW. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Citigroup dropped their target price on shares of Illinois Tool Works from $317.00 to $310.00 and set a "neutral" rating for the company in a report on Wednesday, October 28th. JPMorgan Chase & Co. lowered Illinois Tool Works from an "overweight" rating to a "neutral" rating and cut their target price for the company from $350.00 to $270.00 in a research report on Friday, October 9th. UBS Group set a $277.00 price target on Illinois Tool Works in a research note on Friday, October 9th. Finally, The Goldman Sachs Group restated a "sell" rating and set a $270.00 price target on shares of Illinois Tool Works in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Reduce" and a consensus price target of $276.33.

Insider Transactions at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Santi sold 41,431 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the sale, the director owned 266,288 shares of the company's stock, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 1.2%

Shares of NYSE:ITW opened at $286.71 on Wednesday. The firm's 50 day moving average price is $271.62 and its 200 day moving average price is $271.00. The stock has a market cap of $81.48 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.18 and a beta of 0.92. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15. The company has a quick ratio of 0.94, a current ratio of 1.29 and a debt-to-equity ratio of 2.28.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.03. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the business earned $2.81 EPS. The company's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 11.49 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 31st. Illinois Tool Works's dividend payout ratio is presently 61.32%.

Illinois Tool Works Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW's operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.

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