Illinois Tool Works Inc. (NYSE:ITW) EVP John R. Hartnett sold 14,323 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total value of $2,199,296.65. Following the sale, the executive vice president now owns 31,695 shares of the company’s stock, valued at approximately $4,866,767.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE:ITW traded down $0.55 on Thursday, hitting $140.86. 1,453,365 shares of the stock were exchanged, compared to its average volume of 1,275,958. The firm has a market capitalization of $46.39 billion, a PE ratio of 18.53, a P/E/G ratio of 2.33 and a beta of 1.21. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.53 and a quick ratio of 1.19. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.01. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 7.94 earnings per share for the current year.
A number of brokerages have weighed in on ITW. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Morgan Stanley set a $134.00 target price on Illinois Tool Works and gave the company a “sell” rating in a report on Friday, April 26th. Citigroup set a $161.00 target price on Illinois Tool Works and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Argus boosted their target price on Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $142.59.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc lifted its holdings in Illinois Tool Works by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock worth $3,615,123,000 after buying an additional 317,172 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Illinois Tool Works by 2.2% in the 4th quarter. Northern Trust Corp now owns 14,161,839 shares of the industrial products company’s stock worth $1,794,164,000 after purchasing an additional 309,895 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Illinois Tool Works by 12,441.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 9,962,137 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Illinois Tool Works by 27.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock worth $1,117,426,000 after purchasing an additional 1,907,471 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock worth $825,423,000 after purchasing an additional 274,579 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.
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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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