16,919 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Everence Capital Management Inc.


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Everence Capital Management Inc. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,919 shares of the industrial products company’s stock, valued at approximately $3,748,000.

Several other hedge funds have also modified their holdings of ITW. Advisory Alpha LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth $79,000. Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Illinois Tool Works during the third quarter worth $450,000. AQR Capital Management LLC increased its position in shares of Illinois Tool Works by 47.5% during the third quarter. AQR Capital Management LLC now owns 811,917 shares of the industrial products company’s stock worth $156,870,000 after purchasing an additional 261,534 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Illinois Tool Works by 44.1% during the third quarter. Cubist Systematic Strategies LLC now owns 31,385 shares of the industrial products company’s stock worth $6,064,000 after purchasing an additional 9,604 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Illinois Tool Works by 4.4% during the third quarter. Captrust Financial Advisors now owns 15,180 shares of the industrial products company’s stock worth $2,915,000 after purchasing an additional 641 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.

ITW has been the topic of several research reports. UBS Group raised Illinois Tool Works from a “neutral” rating to a “buy” rating and upped their target price for the company from $211.00 to $232.00 in a research report on Monday, January 4th. Morgan Stanley upped their target price on Illinois Tool Works from $176.00 to $180.00 and gave the company an “underweight” rating in a research report on Monday, February 8th. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $96.00 to $206.00 and gave the company a “hold” rating in a research report on Monday, February 8th. Credit Suisse Group raised Illinois Tool Works from a “neutral” rating to an “outperform” rating and upped their target price for the company from $209.00 to $235.00 in a research report on Tuesday, January 12th. Finally, Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $204.41.

Illinois Tool Works stock traded down $1.83 during midday trading on Thursday, reaching $218.12. The company had a trading volume of 33,376 shares, compared to its average volume of 1,133,616. The company has a market capitalization of $69.03 billion, a P/E ratio of 33.11, a P/E/G ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a 12-month low of $148.27 and a 12-month high of $228.77. The firm’s fifty day simple moving average is $213.43 and its 200-day simple moving average is $205.68. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.23. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.31 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. Illinois Tool Works’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.87 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 6.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st will be issued a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a yield of 2.09%. Illinois Tool Works’s payout ratio is 58.84%.

In other news, CEO Ernest Scott Santi sold 1,231 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the completion of the sale, the chief executive officer now owns 295,172 shares in the company, valued at approximately $60,619,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Norman D. Jr. Finch sold 7,232 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $203.00, for a total transaction of $1,468,096.00. 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.

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

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