Traders Purchase Large Volume of Illinois Tool Works Call Options (ITW)
Illinois Tool Works Inc. (NYSE:ITW) was the recipient of some unusual options trading on Thursday. Investors acquired 4,464 call options on the stock. This represents an increase of approximately 1,261% compared to the average daily volume of 328 call options.
A number of equities analysts have recently issued reports on the company. Citigroup reissued a “buy” rating and issued a $162.00 target price on shares of Illinois Tool Works in a report on Tuesday, September 26th. Wells Fargo & Company set a $170.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Argus reissued a “buy” rating and issued a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Jefferies Group reissued a “buy” rating and issued a $190.00 target price on shares of Illinois Tool Works in a report on Wednesday, November 29th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and an average price target of $160.93.
Shares of Illinois Tool Works (NYSE ITW) opened at $166.22 on Tuesday. Illinois Tool Works has a twelve month low of $120.06 and a twelve month high of $169.69. The firm has a market capitalization of $56,484.30, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.18. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.50 EPS. equities analysts anticipate that Illinois Tool Works will post 6.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.88%. Illinois Tool Works’s payout ratio is 47.78%.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Juan Valls sold 48,622 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the transaction, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Omnia Family Wealth LLC boosted its position in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2 shares during the last quarter. Private Vista LLC boosted its position in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 277,508 shares during the last quarter. Harding Loevner LP bought a new position in shares of Illinois Tool Works in the 2nd quarter worth $115,000. WFG Advisors LP boosted its position in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
Illinois Tool Works Company Profile
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.
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