Compass Capital Management Inc. Bought 720 Shares of Illinois Tool Works Inc. (ITW)

Compass Capital Management Inc. Bought 720 Shares of Illinois Tool Works Inc. (ITW)

Compass Capital Management Inc. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 184,295 shares of the industrial products company’s stock after buying an additional 720 shares during the period. Illinois Tool Works comprises 4.2% of Compass Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Compass Capital Management Inc.’s holdings in Illinois Tool Works were worth $24,414,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. First Midwest Bank Trust Division boosted its position in shares of Illinois Tool Works by 229.5% in the third quarter. First Midwest Bank Trust Division now owns 24,331 shares of the industrial products company’s stock worth $2,916,000 after buying an additional 16,946 shares during the last quarter. Northern Trust Corp boosted its position in shares of Illinois Tool Works by 0.4% in the third quarter. Northern Trust Corp now owns 34,111,354 shares of the industrial products company’s stock worth $4,087,905,000 after buying an additional 121,298 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Illinois Tool Works by 19.3% in the third quarter. Ropes Wealth Advisors LLC now owns 13,480 shares of the industrial products company’s stock worth $1,615,000 after buying an additional 2,184 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of Illinois Tool Works by 1.2% in the third quarter. Hartford Investment Management Co. now owns 82,879 shares of the industrial products company’s stock worth $9,932,000 after buying an additional 997 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Illinois Tool Works by 3.0% in the third quarter. Hsbc Holdings PLC now owns 555,446 shares of the industrial products company’s stock worth $66,363,000 after buying an additional 16,329 shares during the last quarter. 74.80% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (NYSE ITW) opened at 143.61 on Friday. The stock’s 50 day moving average is $138.02 and its 200-day moving average is $130.65. Illinois Tool Works Inc. has a 12 month low of $98.32 and a 12 month high of $144.86. The company has a market capitalization of $49.61 billion, a PE ratio of 24.12 and a beta of 1.01.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, April 24th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.40 billion. Illinois Tool Works had a net margin of 14.96% and a return on equity of 41.90%. Illinois Tool Works’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, analysts expect that Illinois Tool Works Inc. will post $6.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 45.61%.

A number of equities analysts have issued reports on ITW shares. Goldman Sachs Group Inc cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $123.00 to $121.00 in a research note on Friday, February 17th. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Illinois Tool Works in a research note on Friday, March 17th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Illinois Tool Works in a research note on Friday, March 24th. Finally, Stifel Nicolaus cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and raised their price objective for the company from $135.00 to $140.00 in a research note on Monday, March 27th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $147.33.

In related news, CEO Ernest Scott Santi sold 101,297 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the transaction, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at $26,383,330.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael R. Zimmerman sold 5,000 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $140.00, for a total transaction of $700,000.00. Following the transaction, the insider now directly owns 7,626 shares in the company, valued at $1,067,640. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,633 shares of company stock worth $23,991,443. 0.80% of the stock is owned by insiders.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ITW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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