Illinois Tool Works Inc. (ITW) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,407 shares of the industrial products company’s stock after acquiring an additional 156 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Illinois Tool Works were worth $3,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spearhead Capital Advisors LLC boosted its stake in Illinois Tool Works by 4.5% during the third quarter. Spearhead Capital Advisors LLC now owns 22,083 shares of the industrial products company’s stock worth $3,106,000 after acquiring an additional 955 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Illinois Tool Works by 36.4% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 6,222 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 1,662 shares in the last quarter. Factory Mutual Insurance Co. boosted its stake in Illinois Tool Works by 2.2% during the third quarter. Factory Mutual Insurance Co. now owns 308,600 shares of the industrial products company’s stock worth $43,550,000 after acquiring an additional 6,700 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in Illinois Tool Works by 1.8% during the fourth quarter. Douglas Lane & Associates LLC now owns 116,094 shares of the industrial products company’s stock worth $14,708,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Strategic Advisors LLC bought a new position in Illinois Tool Works during the third quarter worth $205,000. 76.31% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on ITW. Credit Suisse Group restated a “hold” rating on shares of Illinois Tool Works in a report on Friday. Citigroup downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price objective on the stock. in a report on Monday, January 14th. JPMorgan Chase & Co. downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a report on Thursday, January 10th. Morgan Stanley downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $131.00 to $115.00 in a report on Tuesday, December 18th. Finally, Deutsche Bank downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $133.00 to $125.00 in a report on Sunday, December 16th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $139.47.

Shares of ITW stock opened at $134.43 on Friday. The stock has a market capitalization of $44.60 billion, a PE ratio of 17.69, a PEG ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $173.25.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 8.07 earnings per share for the current fiscal year.

In other news, CFO Michael M. Larsen sold 58,736 shares of the stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total value of $7,806,601.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest Scott Santi sold 108,885 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the transaction, the chief executive officer now owns 149,777 shares of the company’s stock, valued at approximately $19,948,798.63. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Illinois Tool Works Inc. (ITW) Shares Bought by Oppenheimer Asset Management Inc.” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.com-unik.info/2019/02/03/illinois-tool-works-inc-itw-shares-bought-by-oppenheimer-asset-management-inc.html.

About Illinois Tool Works

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.

Recommended Story: Return On Assets

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).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit