The Vanguard Group, Inc. has recently announced that it has increased stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.40%. After grabbing 24.5 million shares, the institutional investor is now in possession of 98598.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 8.03% having worth around $5.71 billion. Moreover, BlackRock Fund Advisors increased its share by 0.1 million to have a control over 14.11 million shares. And Charles Schwab Investment Managem raised its holdings to 0.55 million shares by acquiring 7.01 million shares or 2.30% of the stake.
Illinois Tool Works Inc. (ITW) concluded trading on 03/16/23 at a closing price of $230.34, with 1.33 million shares of worth about $306.65 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.96% during that period and on Thursday the price saw a gain of about 0.78%. Currently the company’s common shares owned by public are about 306.60M shares, out of which, 304.06M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 24 analysts are covering the ITW stock and their offered price forecasts bring an average price target of $239.53. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $282.00 and could fall to a lowest price of $183.00. The stock’s current price level is 3.04% above of average price target set by the analysts, while a rise to estimated low would result in loss of -25.87% for the stock. However, touching the estimated high of $282.00 would mean a gain of 18.32% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 400,278 shares in 36 of the transactions. In 26 selling transactions, insiders dumped 376,107 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Schwab US Dividend Equity ETF are the top 3 mutual funds which are holding stakes in Illinois Tool Works Inc. Vanguard Total Stock Market Index is currently holding 8.47 million shares of worth totaling $1.98 billion. The company recently came buying 69309.0 shares which brought its stake up to 2.78% of the company’s outstanding shares. Vanguard 500 Index Fund bought 15310.0 shares, after which its hold over company’s outstanding shares expand to 2.12%, leaving 6.48 million shares with the mutual fund that have a worth of about $1.51 billion. Schwab US Dividend Equity ETF, after buying 4.7 million shares, have now control over 1.54% of the stake in the company. It holds 8114.0 shares of worth $1.1 billion.
Illinois Tool Works Inc. (NYSE: ITW) started trading at $226.57, below -$1.98 from concluding price of the previous day. However, the stock later moved at a day high price of 232.11, or with a gain of 0.78%. Stock saw a price change of -1.90% in past 5 days and over the past one month there was a price change of -3.24%. Year-to-date (YTD), ITW shares are showing a performance of 4.56% which increased to 10.50% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $173.52 but also hit the highest price of $253.37 during that period. The average intraday trading volume for Illinois Tool Works Inc. shares is 1.01 million. The stock is currently trading -1.88% below its 20-day simple moving average (SMA20), while that difference is down -1.18% for SMA50 and it goes to 9.31% higher than SMA200.
The Vanguard Group, Inc. acquired 24.5 million shares of Illinois Tool Works Inc. having value of about $5.71 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 98598.0 shares in the company valued at close to $22711063.32, or have control over 0.40% stake in the company. Illinois Tool Works Inc. (NYSE: ITW) currently have 306.60M outstanding shares and institutions hold larger chunk of about 82.60% of that. Holding of mutual funds in the company is about 34.58% while other institutional holders and individual stake holders have control over 47.68% and 12.45% of the stake respectively.
The stock has a current market capitalization of $71.65B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 23.57, while it has posted earnings per share of $9.77 in the same period. Its PEG reads 5.35 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 2.51. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ITW, volatility over the week remained 2.58% while standing at 1.83% over the month.
Stock’s fiscal year EPS is expected to rise by 14.70% while it is estimated to increase by 7.75% in next year. EPS is likely to shrink at an annualized rate of 4.41% for next 5-years, compared to annual growth of 7.60% made by the stock over the past 5-years.
Analysts at 24 brokerage firms have issued recommendations for the Illinois Tool Works Inc. (ITW)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 24 Wall Street analysts, 3 recommended a “Buy” rating, while 16 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Vertical Research on January 03, 2023 offering a Hold rating for the stock and assigned a target price range of between $240 and $220 to it. Coverage by BofA Securities stated Illinois Tool Works Inc. (ITW) stock as a Neutral in their note to investors on August 24, 2022, suggesting a price target of $220 for the stock. On August 15, 2022, Deutsche Bank Downgrade their recommendations, while on July 08, 2022, UBS Downgrade their ratings for the stock with a price target of $185. Stock get an Overweight rating from JP Morgan on March 28, 2022.
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