Capital Investment Services of America Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,119 shares of the industrial products company’s stock after purchasing an additional 4,539 shares during the period. Illinois Tool Works comprises approximately 2.7% of Capital Investment Services of America Inc.’s holdings, making the stock its 11th largest holding. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $26,387,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Exeter Financial LLC increased its stake in Illinois Tool Works by 6.8% in the fourth quarter. Exeter Financial LLC now owns 8,164 shares of the industrial products company’s stock worth $1,664,000 after purchasing an additional 522 shares during the period. AlphaStar Capital Management LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $705,000. Cubist Systematic Strategies LLC raised its holdings in shares of Illinois Tool Works by 44.1% in the third quarter. Cubist Systematic Strategies LLC now owns 31,385 shares of the industrial products company’s stock valued at $6,064,000 after acquiring an additional 9,604 shares in the last quarter. Sound Financial Strategies Group LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $1,217,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $2,020,000. Institutional investors and hedge funds own 77.44% of the company’s stock.
Shares of ITW stock opened at $219.72 on Friday. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92. The company has a market cap of $69.54 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 3.88 and a beta of 1.07. The stock has a 50 day simple moving average of $213.85 and a 200-day simple moving average of $205.78. Illinois Tool Works Inc. has a 1-year low of $148.27 and a 1-year high of $228.77.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.23. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.31 billion. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 6.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 58.84%.
ITW has been the topic of several analyst reports. Barclays lifted their target price on Illinois Tool Works from $207.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on Illinois Tool Works from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 15th. Vertical Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday, January 4th. Credit Suisse Group upgraded Illinois Tool Works from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $209.00 to $235.00 in a research note on Tuesday, January 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $96.00 to $206.00 and gave the stock a “hold” rating in a research note on Monday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $204.41.
In other Illinois Tool Works news, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total value of $252,810.47. Following the completion of the sale, the chief executive officer now owns 295,172 shares of the company’s stock, valued at $60,619,473.64. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.
Illinois Tool Works Company 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.
Read More: What is the Federal Reserve?
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).