BRYN MAWR TRUST Co increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 2.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,447 shares of the industrial products company’s stock after buying an additional 254 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Illinois Tool Works were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $28,000. Ritter Daniher Financial Advisory LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $28,000. Eagle Bay Advisors LLC boosted its holdings in Illinois Tool Works by 106.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 138 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 71 shares during the period. Allegheny Financial Group LTD bought a new stake in Illinois Tool Works in the 4th quarter valued at $29,000. Finally, Amplius Wealth Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $30,000. 79.03% of the stock is owned by institutional investors and hedge funds.
Shares of Illinois Tool Works stock traded up $0.05 during mid-day trading on Friday, reaching $207.64. 1,492,021 shares of the stock were exchanged, compared to its average volume of 1,296,402. The company has a market cap of $64.67 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. The firm has a 50-day simple moving average of $206.25 and a 200 day simple moving average of $224.31. Illinois Tool Works Inc. has a fifty-two week low of $195.25 and a fifty-two week high of $249.81.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.34%.
ITW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, April 14th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $262.00 to $255.00 in a report on Monday, March 28th. Morgan Stanley reduced their price target 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 dropped their price objective on shares of Illinois Tool Works from $200.00 to $192.00 in a research note on Wednesday, May 4th. Finally, StockNews.com assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target of $232.64.
In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total value of $205,340.00. Following the completion of the sale, the executive vice president now owns 7,803 shares in the company, valued at approximately $1,602,268.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.
About Illinois Tool Works (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.
- Get a free copy of the StockNews.com research report on Illinois Tool Works (ITW)
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