The Vanguard Group, Inc. recently announced the acquisition of new stake in Illinois Tool Works Inc. (NYSE:ITW). The institutional investor has increased its shareholding in the Industrials company by 0.40% to 24.5 million shares with purchase of 98598.0 shares. This fresh investment now brings its stake to 8.03% valued currently at $5.93 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.34 million to 14.46 million shares. And Capital Research & Management Co has lifted its position by 4.43% or 0.23 million shares – to 5.5 million shares.
With over 1.97 million Illinois Tool Works Inc. (ITW) shares trading Friday and a closing price of $228.04 on the day, the dollar volume was approximately $449.54 million. The shares have shown a positive half year performance of 0.17% and its price on 05/19/23 gained nearly 0.17%. Currently, there are 306.60M common shares owned by the public and among those 303.14M shares have been available to trade.
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Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 392,550 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 375,107 shares.
The top 3 mutual fund holders in Illinois Tool Works Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Schwab US Dividend Equity ETF. Vanguard Total Stock Market ETF owns 8.5 million shares of the company’s stock, all valued at over $2.06 billion. The company sold 4733.0 shares recently to bring their total holdings to about 2.79% of the shares outstanding. Vanguard 500 Index Fund sold 11973.0 shares to see its total holdings shrink to 6.48 million shares valued at over $1.57 billion and representing 2.13% of the shares outstanding. Schwab US Dividend Equity ETF sold 638.0 shares to bring its total holdings to over 4.11 million shares at a value of $995.25 million. Schwab US Dividend Equity ETF now owns shares totaling to 1.35% of the shares outstanding.
Shares of Illinois Tool Works Inc. (NYSE: ITW) opened at $229.50, up $1.84 from a prior closing price of $227.66. However, the script later moved the day high at 230.00, up 0.17%. The company’s stock has a 5-day price change of -0.21% and -5.12% over the past three months. ITW shares are trading 3.51% year to date (YTD), with the 12-month market performance up to 12.12% higher. It has a 12-month low price of $173.52 and touched a high of $253.37 over the same period. ITW has an average intraday trading volume of 1.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.86%, -2.09%, and 3.59% respectively.
Institutional ownership of Illinois Tool Works Inc. (NYSE: ITW) shares accounts for 82.60% of the company’s 306.60M shares outstanding. Mutual fund holders own 34.47%, while other institutional holders and individual stakeholders account for 47.47% and 12.46% respectively.
It has a market capitalization of $69.19B and a beta (3y monthly) value of 1.12. The stock’s trailing 12-month PE ratio is 22.82, while the earnings-per-share (ttm) stands at $9.99. The company has a PEG of 5.63 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 2.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.79% over the week and 1.86% over the month.
Analysts forecast that Illinois Tool Works Inc. (ITW) will achieve an EPS of $2.4 for the current quarter, $2.45 for the next quarter and $10.34 for 2024. The lowest estimate earnings-per-share for the quarter is $2.36 while analysts give the company a high EPS estimate of $2.43. Comparatively, EPS for the current quarter was $2.37 a year ago. Earnings per share for the fiscal year are expected to increase by 14.70%, and 6.93% over the next financial year. EPS should shrink at an annualized rate of 4.05% over the next five years, compared to 7.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Illinois Tool Works Inc. (ITW) as a “Hold” at a consensus score of 3.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 16 of the 24 advise that investors “hold,” and 4 rated it as a “Sell.”
