Is Illinois Tool Works Inc.’s Latest Move For Real? The Stock Was Sold By Option Traders Today

 Is Illinois Tool Works Inc.'s Latest Move For Real? The Stock Was Sold By Option Traders Today

In today’s session Illinois Tool Works Inc. (ITW) recorded an unusually high (111) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ITW decrease. With 111 contracts traded and 12734 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ITW161021P00115000 closed last at: $1.7 or 5.6% down. About 826,351 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 18.46% since March 15, 2016 and is uptrending. It has outperformed by 12.98% the S&P500.

Analysts await Illinois Tool Works Inc. (NYSE:ITW) to report earnings on October, 19. They expect $1.49 EPS, up 7.19% or $0.10 from last year’s $1.39 per share. ITW’s profit will be $529.75M for 19.32 P/E if the $1.49 EPS becomes a reality. After $1.46 actual EPS reported by Illinois Tool Works Inc. for the previous quarter, Wall Street now forecasts 2.05% EPS growth.

Illinois Tool Works Inc. (NYSE:ITW) Ratings Coverage

Out of 10 analysts covering Illinois Tool Works Inc (NYSE:ITW), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. Illinois Tool Works Inc has been the topic of 23 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, July 21. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Equal-Weight” rating given on Thursday, April 21 by Morgan Stanley. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Outperform” rating given on Thursday, April 21 by Robert W. Baird. Robert W. Baird downgraded Illinois Tool Works Inc. (NYSE:ITW) on Thursday, June 23 to “Neutral” rating. The firm has “Buy” rating given on Thursday, April 21 by Argus Research. Seaport Global maintained Illinois Tool Works Inc. (NYSE:ITW) rating on Thursday, April 21. Seaport Global has “Buy” rating and $125 price target. The company was initiated on Monday, January 11 by Barclays Capital. As per Monday, September 7, the company rating was downgraded by Zacks. The firm has “Buy” rating by Citigroup given on Thursday, January 21. Zacks upgraded the shares of ITW in a report on Friday, August 28 to “Hold” rating.

According to Zacks Investment Research, “Illinois Tool Works, Inc. manufactures and markets a variety of products and systems that provide specific, problem-solving solutions for a diverse customer base worldwide. The company’s business units are divided into six segments: Engineered Products-North America; Engineered Products-International; Specialty Systems-North America; Specialty Systems-International; Consumer Products; and Leasing and Investments.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.05, from 0.91 in 2016Q1. The ratio worsened, as 46 funds sold all Illinois Tool Works Inc. shares owned while 350 reduced positions. 62 funds bought stakes while 277 increased positions. They now own 262.38 million shares or 4.28% less from 274.12 million shares in 2016Q1.
The Michigan-based Azimuth Management Ltd has invested 0.11% in Illinois Tool Works Inc. (NYSE:ITW). Broderick Brian C holds 5,377 shares or 0.24% of its portfolio. Metropolitan Life Insur Ny last reported 180,330 shares in the company. Guardian Life Of America accumulated 0.01% or 1,227 shares. Glg Limited Co holds 0.15% or 18,986 shares in its portfolio. Washington Bancorp last reported 0.04% of its portfolio in the stock. Birch Hill Inv Advsr Limited Com last reported 0.09% of its portfolio in the stock. Blackrock Japan Limited accumulated 0.19% or 510,770 shares. Scopus Asset Mgmt Lp has 130,000 shares for 0.18% of their US portfolio. Aqr Lc holds 0.06% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 328,823 shares. Confluence Invest Management Limited Company owns 294,246 shares or 0.84% of their US portfolio. Denali Advsrs has invested 2.03% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Norris Perne & French Ltd Liability Partnership Mi, a Michigan-based fund reported 2,316 shares. Berkshire Asset Mngmt Limited Liability Co Pa accumulated 10,722 shares or 0.17% of the stock. Nomura Asset Mngmt reported 39,221 shares or 0.08% of all its holdings.

Insider Transactions: Since April 25, 2016, the stock had 0 insider buys, and 14 selling transactions for $32.48 million net activity. 74,077 Illinois Tool Works Inc. (NYSE:ITW) shares with value of $8.46 million were sold by SANTI ERNEST SCOTT. Another trade for 2,500 shares valued at $262,935 was made by Schlitz Lei Zhang on Thursday, April 28. $1.79M worth of shares were sold by SCHEUNEMAN RANDALL J on Thursday, July 21. The insider O’HERLIHY CHRISTOPHER A sold 22,941 shares worth $2.42 million. The insider VALLS JUAN sold $1.87 million. Shares for $7.30 million were sold by MARTEL ROLAND M. Another trade for 8,000 shares valued at $835,280 was sold by Parry David C.

Illinois Tool Works Inc. is a maker of a range of industrial products and equipment. The company has a market cap of $40.94 billion. The Firm operates through seven divisions: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It has a 21.44 P/E ratio. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

ITW Company Profile

Illinois Tool Works Inc. (ITW), incorporated on June 19, 1961, is a maker of a range of industrial products and equipment. The Firm operates through seven divisions: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. The Firm has over 80 divisions in approximately 60 countries.

More notable recent Illinois Tool Works Inc. (NYSE:ITW) news were published by: Fool.com which released: “Illinois Tool Works Needs to Do These 3 Things” on October 17, 2016, also Forbes.com with their article: “Illinois Tool Works Reaches Analyst Target Price” published on October 13, 2016, Fool.com published: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” on October 05, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Nasdaq.com and their article: “Ex-Dividend Reminder: Illinois Tool Works, Stantec and Valmont Industries” published on September 26, 2016 as well as Equitiesfocus.com‘s news article titled: “Illinois Tool Works Inc. (NYSE:ITW) Short-Term Price Target At $120.21” with publication date: October 17, 2016.

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