CIBC Private Wealth Group LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,570 shares of the industrial products company’s stock after selling 5,710 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.05% of Illinois Tool Works worth $30,273,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in Illinois Tool Works during the 2nd quarter worth $44,000. Ausdal Financial Partners Inc. boosted its position in Illinois Tool Works by 5.4% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 1,267 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 65 shares during the period. IMA Wealth Inc. purchased a new stake in Illinois Tool Works during the 2nd quarter worth $1,381,000. Lcnb Corp boosted its position in Illinois Tool Works by 2.3% during the 2nd quarter. Lcnb Corp now owns 2,955 shares of the industrial products company’s stock worth $539,000 after purchasing an additional 67 shares during the period. Finally, Central Bank & Trust Co. boosted its position in Illinois Tool Works by 36.2% during the 3rd quarter. Central Bank & Trust Co. now owns 6,083 shares of the industrial products company’s stock worth $1,099,000 after purchasing an additional 1,616 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Ernest Scott Santi sold 235,656 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the sale, the chief executive officer now owns 213,538 shares in the company, valued at $52,592,274.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total value of $58,039,716.24. Following the sale, the chief executive officer now owns 213,538 shares in the company, valued at $52,592,274.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the sale, the insider now owns 40,072 shares in the company, valued at approximately $9,868,130.72. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.
Analysts Set New Price Targets
Illinois Tool Works Stock Performance
Shares of ITW stock opened at $234.14 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.41. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $253.37. The company’s 50-day simple moving average is $233.60 and its 200-day simple moving average is $217.30. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 3.52 and a beta of 1.10.
Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.26). The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%. Illinois Tool Works’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.95 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 9.53 earnings per share for the current fiscal year.
Illinois Tool Works Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be paid a dividend of $1.31 per share. The ex-dividend date is Thursday, March 30th. This represents a $5.24 annualized dividend and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is 53.58%.
Illinois Tool Works Profile
Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.
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