Sciencast Management LP Acquires 8,616 Shares of Illinois Tool Works Inc. (ITW)

Sciencast Management LP grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 712.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,825 shares of the industrial products company’s stock after purchasing an additional 8,616 shares during the quarter. Illinois Tool Works makes up 0.8% of Sciencast Management LP’s portfolio, making the stock its 17th biggest position. Sciencast Management LP’s holdings in Illinois Tool Works were worth $1,552,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Tredje AP fonden raised its holdings in shares of Illinois Tool Works by 1.1% in the 1st quarter. Tredje AP fonden now owns 32,524 shares of the industrial products company’s stock valued at $5,121,000 after purchasing an additional 350 shares in the last quarter. Signaturefd LLC raised its stake in shares of Illinois Tool Works by 26.5% during the 4th quarter. Signaturefd LLC now owns 1,740 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 364 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Illinois Tool Works by 8.9% during the 4th quarter. Sigma Planning Corp now owns 4,504 shares of the industrial products company’s stock worth $752,000 after acquiring an additional 368 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Illinois Tool Works by 3.7% during the 1st quarter. KCM Investment Advisors LLC now owns 10,291 shares of the industrial products company’s stock worth $1,612,000 after acquiring an additional 369 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of Illinois Tool Works by 42.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,250 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.

Several research analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 27th. BMO Capital Markets reduced their price objective on shares of Illinois Tool Works from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Friday, May 4th. Goldman Sachs Group upgraded shares of Illinois Tool Works from a “buy” rating to a “conviction-buy” rating and reduced their price objective for the stock from $191.00 to $177.00 in a research note on Tuesday, April 10th. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $168.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $177.67.

NYSE:ITW opened at $148.69 on Thursday. The company has a market cap of $50.54 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.90 and a beta of 1.23. Illinois Tool Works Inc. has a twelve month low of $135.07 and a twelve month high of $179.07. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Illinois Tool Works had a net margin of 12.36% and a return on equity of 51.79%. Illinois Tool Works’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. equities research analysts expect that Illinois Tool Works Inc. will post 7.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 29th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 47.34%.

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.

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

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