Hills Bank & Trust Co. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,502 shares of the industrial products company’s stock after selling 733 shares during the quarter. Illinois Tool Works accounts for approximately 1.5% of Hills Bank & Trust Co.’s holdings, making the stock its 16th largest holding. Hills Bank & Trust Co.’s holdings in Illinois Tool Works were worth $6,377,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. D Orazio & Associates Inc. bought a new stake in Illinois Tool Works during the 3rd quarter valued at $28,000. Strategic Blueprint LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $31,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $33,000. B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $34,000. Finally, Usca Ria LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $34,000. Institutional investors own 77.88% of the company’s stock.
In related news, CAO Randall J. Scheuneman sold 11,977 shares of Illinois Tool Works stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the completion of the transaction, the chief accounting officer now owns 18,649 shares in the company, valued at $3,200,727.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Mines sold 12,995 shares of Illinois Tool Works stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $167.71, for a total value of $2,179,391.45. The disclosure for this sale can be found here. Insiders sold a total of 62,273 shares of company stock valued at $10,639,213 in the last 90 days. 0.87% of the stock is owned by corporate insiders.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.10. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. Illinois Tool Works’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 7.7 EPS for the current fiscal year.
Several research firms recently weighed in on ITW. Argus set a $180.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus set a $143.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a research report on Monday, October 28th. Citigroup decreased their price target on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Morgan Stanley decreased their price objective on Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 16th. Six 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. The company currently has an average rating of “Hold” and a consensus price target of $154.21.
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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