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Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Shufro Rose & Co. LLC

Illinois Tool Works logo with Industrials background

Key Points

  • Shufro Rose & Co. LLC increased its stake in Illinois Tool Works Inc. by 6.2%, owning a total of 18,230 shares valued at $4,521,000 as of the latest SEC filing.
  • Several other institutional investors also acquired positions in Illinois Tool Works, with 79.77% of the stock currently held by hedge funds and other institutional investors.
  • Equities analysts have given Illinois Tool Works a consensus rating of "Hold", with target prices ranging from $240.00 to $265.00 following recent adjustments by multiple firms.
  • Interested in Illinois Tool Works? Here are five stocks we like better.

Shufro Rose & Co. LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,230 shares of the industrial products company's stock after acquiring an additional 1,060 shares during the quarter. Shufro Rose & Co. LLC's holdings in Illinois Tool Works were worth $4,521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares during the last quarter. Auto Owners Insurance Co boosted its stake in Illinois Tool Works by 55,978.4% during the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock worth $354,654,000 after buying an additional 1,427,450 shares during the period. Cerity Partners LLC increased its position in shares of Illinois Tool Works by 263.9% during the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock valued at $229,269,000 after acquiring an additional 655,341 shares during the last quarter. Northern Trust Corp raised its stake in shares of Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after acquiring an additional 508,188 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Illinois Tool Works by 1,899.3% in the 4th quarter. Federated Hermes Inc. now owns 224,921 shares of the industrial products company's stock worth $57,031,000 after acquiring an additional 213,671 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 1.6%

Shares of NYSE:ITW traded down $4.06 during trading hours on Friday, reaching $251.91. The stock had a trading volume of 1,236,431 shares, compared to its average volume of 992,529. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm's 50 day moving average is $250.93 and its 200-day moving average is $250.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.16 and a current ratio of 1.59. The stock has a market capitalization of $73.81 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 5.68 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $2.54 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works's dividend payout ratio is currently 52.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ITW shares. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a report on Wednesday, May 7th. UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Citigroup boosted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $259.08.

View Our Latest Analysis on ITW

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

See Also

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

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