Illinois Tool Works Inc. (NYSE:ITW) Stock Position Lifted by Bailard Inc.

Bailard Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,260 shares of the industrial products company’s stock after purchasing an additional 315 shares during the quarter. Bailard Inc.’s holdings in Illinois Tool Works were worth $9,443,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Moors & Cabot Inc. increased its holdings in shares of Illinois Tool Works by 0.6% in the third quarter. Moors & Cabot Inc. now owns 6,369 shares of the industrial products company’s stock valued at $1,319,000 after purchasing an additional 41 shares during the last quarter. Old North State Trust LLC boosted its position in shares of Illinois Tool Works by 23.3% in the fourth quarter. Old North State Trust LLC now owns 233 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 44 shares during the period. Adirondack Trust Co. lifted its position in Illinois Tool Works by 4.8% during the third quarter. Adirondack Trust Co. now owns 977 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 45 shares during the period. MV Capital Management Inc. lifted its position in Illinois Tool Works by 5.5% during the third quarter. MV Capital Management Inc. now owns 915 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 48 shares during the period. Finally, Advisory Research Inc. lifted its position in Illinois Tool Works by 0.7% during the third quarter. Advisory Research Inc. now owns 6,885 shares of the industrial products company’s stock worth $1,423,000 after purchasing an additional 48 shares during the period. 79.03% of the stock is owned by institutional investors.

In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total value of $205,340.00. Following the sale, the executive vice president now directly owns 7,803 shares of the company’s stock, valued at $1,602,268.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.78% of the company’s stock.

NYSE:ITW traded up $0.05 during mid-day trading on Friday, reaching $207.64. The stock had a trading volume of 1,492,021 shares, compared to its average volume of 1,296,402. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.24 and a current ratio of 1.73. Illinois Tool Works Inc. has a one year low of $195.25 and a one year high of $249.81. The firm has a 50 day moving average price of $206.25 and a two-hundred day moving average price of $224.31. The stock has a market capitalization of $64.67 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.46 and a beta of 1.07.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.04. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 9.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.88 annualized dividend and a yield of 2.35%. Illinois Tool Works’s payout ratio is 57.34%.

A number of research analysts have recently commented on ITW shares. Morgan Stanley dropped their target price on shares of Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a report on Thursday, April 7th. Barclays lowered their price objective on Illinois Tool Works from $200.00 to $192.00 in a research note on Wednesday, May 4th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $262.00 to $255.00 in a research report on Monday, March 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. Finally, Stifel Nicolaus cut their price target on Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating on the stock in a report on Monday, April 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $232.64.

Illinois Tool Works Profile (Get Rating)

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.

Further Reading

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

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