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Illinois Tool Works Inc. receives a $2.03 million investment from Weiss Asset Management LP (NYSE:ITW)

Illinois Tool Works Inc. receives a $2.03 million investment from Weiss Asset Management LP (NYSE:ITW)

According to the most recent Form 13F filing that the company made with the Securities and Exchange Commission, Weiss Asset Management LP increased its holdings in Illinois Tool Works Inc. (NYSE: ITW) during the third quarter. The fund’s expenditure of approximately $2,032,000 was incurred due to the purchase of 11,250 shares of stock in the industrial products company.

Changes have been made to the holdings other institutional investors have in ITW due to these alterations. Through the third quarter, Bank OZK achieved a 0.9% increase in the proportion of Illinois Tool Works stock that it owned. Bank OZK now has a total of 5,065 shares of the stock in the industrial goods company after purchasing an additional 45 shares during the most recent quarter. The stock’s value is currently estimated to be approximately USD 915,000. During the third quarter, Ten Capital Wealth Advisors LLC achieved a 16.0% increase in the proportion of Illinois Tool Works stock that it held. Ten Capital Wealth Advisors LLC now has 348 shares of the industrial products company’s stock, which are currently valued at $63,000 after purchasing an additional 48 shares during the preceding quarter. These shares were acquired through the purchase of additional options. During the second quarter, Avantax Advisory Services Inc. brought the total amount of Illinois Tool Works stock that it owned to a level that was 1.0% higher than before. After making an additional purchase of 49 shares during the most recent fiscal quarter, Avantax Advisory Services Inc. now has 5,156 shares of stock in the industrial goods company. At the moment, the value of these shares is $940,000. SeaCrest Wealth Management LLC increased the amount of Illinois Tool Works stock held by 2.4% during the second quarter of 2018. The total number of shares owned by SeaCrest Wealth Management LLC increased by 50 during the period of the company’s fiscal year’s fourth quarter, bringing the total value of the company’s holdings in the industrial products industry to $384,000 at the end of the period. This represents an increase compared to the total holdings of 2,109 shares during the prior quarter.

Last but not least, during the third quarter, Cornerstone Capital Inc. added 0.7% more shares of Illinois Tool Works to its portfolio. After purchasing an additional 50 shares during the most recent quarter, Cornerstone Capital Inc. now owns 6,745 of the industrial goods company’s shares, which have a combined value of $1,218,000. This brings the total number of shares owned by Cornerstone Capital Inc. to 6,745. Institutional investors own the company’s stock 79.83 percent, and these investors have invested in the company.

Additionally, on Friday, December 9th, Director David Byron Smith, Jr. purchased 1,390 Illinois Tool Works stock. The buyers paid an average of $221.81 for each share as part of purchasing those shares, bringing the total transaction cost up to $308,315,90. As a result of the acquisition being finalized, the director is now the direct owner of 118,994 shares of the company’s stock. The total value of these shares is $26,394,059.14. If you click on this link, you will be taken to an SEC filing that provides further details regarding the acquisition. People hold a total of 0.78% of shares with inside knowledge of the company.

Many analysts have been discussing stock as their topic of choice in their writings and presentations. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $192.00 to $188.00 and gave the stock a “hold” rating in a research note published on Tuesday, October 11th. StockNews.com changed their recommendation on shares of Illinois Tool Works from “hold” to “buy” in a research report published on Wednesday, October 26th, indicating that they now recommend purchasing the stock. Previously, the recommendation had been “hold.” Citigroup changed its rating for Illinois Tool Works from “neutral” to “overweight” in a report on the company’s stock released on Friday, December 9th. In addition, they increased the price target they had set for the stock from $202.00 to $232.00. Goldman Sachs Group reclassified Illinois Tool Works from a “neutral” rating to a “buy” rating and raised their price target for the stock from $210.00 to $238.00 in a research report published on Thursday, December 15th. Vertical Research lowered its target price for shares of Illinois Tool Works from $240.00 to $220.00 in a research report published on Tuesday, January 3rd. They also changed their recommendation on the stock from “buy” to “hold.” Three analysts have recommended selling the stock, seven analysts have stated that investors should maintain their current stock holdings, and three analysts have stated that investors should purchase the stock. The current rating for Illinois Tool Works is “Hold,” and the general price objective for the company is set at $206.29, as indicated by the data provided by Bloomberg.

During Friday trading, NYSE ITW decreased by $0.62, bringing the underlying stock’s price to $231.70. The volume of transactions involving company shares was 9,860, which is significantly lower than the average of 879,617 transactions. The company’s simple moving average over the past 50 days is $223.28, and its simple moving average over the past 200 days is $205.78, respectively. The debt-to-equity ratio presently stands at 1.97, the quick ratio stands at 0.95, and the current ratio stands at 1.41. The share price is currently $1.11, the price-to-earnings ratio is 26.52, the price-to-earnings-to-growth ratio is 3.21, and the stock’s market capitalization is currently $71.17 billion. Illinois Tool Works Inc. reached a 52-week low of $173.52 in the past year, while the stock of the company reached a 52-week high of $248.16 during the same period.

The financial results for the company’s third fiscal quarter were made public by Illinois Tool Works (NYSE: ITW) on Tuesday, October 25. The consumer goods manufacturer reported earnings per share for the quarter of $2.35, which is $0.10 higher than the average estimate for earnings per share made by analysts, which was $2.25. The 17.49% net margin and 80.65% return on equity that Illinois Tool Works achieved demonstrate the company’s successful performance. The company announced that its sales for the quarter came in at $4.01 billion, which is a significant increase over the average prediction of $3.90 billion in sales for the quarter. The company reported a profit per share of $2.02 during the same period the year before, which corresponds to the company’s third fiscal quarter. The consumer goods manufacturer reported earnings per share for the quarter of $2.35, which is $0.10 higher than the average estimate for earnings per share made by analysts, which was $2.25. The 17.49% net margin and 80.65% return on equity that Illinois Tool Works achieved demonstrate the company’s successful performance. The company announced that its sales for the quarter came in at $4.01 billion, which is a significant increase over the average prediction of $3.90 billion in sales for the quarter. The corporation reported a profit of $2.02 per share for the same period the year before compared to the current year. The company’s quarterly revenue increased by 12.8% when measured against the results achieved during the same quarter in the preceding year. The majority opinion held by market analysts is that Illinois Tool Works Inc. will generate a profit of 9.46 cents per share for the current fiscal year.

In addition, the business had previously declared a quarterly dividend, which was paid out on the 12th of this particular month. On Friday, the 30th of December, a $1.31 dividend payment was made to each of the accounts of investors on record. A dividend payout of $5.24 per year, in addition to a yield of 2.26% per quarter, is the result of this process. Thursday, the 29th of December, was the day that the dividend was disbursed; that day was also the month of December. The dividend payout ratio (DPR) that Illinois Tool Works is keeping up at the moment is 59.82%.

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