Kerntke Otto McGlone Wealth Management Group bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 996 shares of the industrial products company’s stock, valued at approximately $219,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Illinois Tool Works by 0.8% during the third quarter. Vanguard Group Inc. now owns 25,609,537 shares of the industrial products company’s stock valued at $4,626,363,000 after acquiring an additional 215,823 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Illinois Tool Works by 106,553.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after acquiring an additional 7,178,474 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 8.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,005,137 shares of the industrial products company’s stock worth $1,531,936,000 after acquiring an additional 545,904 shares during the period. Geode Capital Management LLC boosted its stake in Illinois Tool Works by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,004,410 shares of the industrial products company’s stock valued at $1,100,917,000 after buying an additional 85,640 shares during the period. Finally, Morgan Stanley boosted its stake in Illinois Tool Works by 59.2% during the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock valued at $1,011,459,000 after buying an additional 1,707,780 shares during the period. Institutional investors own 79.83% of the company’s stock.
Insider Activity at Illinois Tool Works
In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,425 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $239.23, for a total transaction of $1,297,822.75. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,121,970.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.
Analyst Ratings Changes
Illinois Tool Works Price Performance
NYSE ITW opened at $244.46 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.84 and a current ratio of 1.20. The firm’s 50 day moving average price is $231.07 and its 200-day moving average price is $230.63. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $253.37. The company has a market cap of $74.29 billion, a PE ratio of 24.45, a P/E/G ratio of 3.69 and a beta of 1.10.
Illinois Tool Works (NYSE:ITW – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.10. Illinois Tool Works had a net margin of 19.27% and a return on equity of 92.13%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period last year, the firm posted $2.11 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 9.65 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 30th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.40%.
Illinois Tool Works Profile
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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