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 (1,537) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious ITW decrease. With 1,537 contracts traded and 8804 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: ITW161118P00110000 closed last at: $0.35 or 12.5% down. About 373,858 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 17.38% since April 8, 2016 and is uptrending. It has outperformed by 11.73% the S&P500.

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. $125 is the highest target while $85 is the lowest. The $103.17 average target is -15.89% below today’s ($122.66) stock price. Illinois Tool Works Inc has been the topic of 23 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Thursday, January 21 the stock rating was initiated by Citigroup with “Buy”. The firm earned “Buy” rating on Thursday, April 21 by Seaport Global. Goldman Sachs downgraded it to “Sell” rating and $99 target price in Thursday, September 3 report. The stock has “Buy” rating given by Argus Research on Thursday, April 21. The firm earned “Outperform” rating on Thursday, April 21 by Robert W. Baird. The firm earned “Hold” rating on Monday, September 7 by Zacks. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, July 21. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, January 13. The stock has “Neutral” rating given by Robert W. Baird on Thursday, June 23. As per Monday, January 11, the company rating was initiated by Barclays Capital.

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 is negative, 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.
Benjamin F Edwards And holds 0.36% or 17,912 shares in its portfolio. Quantbot Technologies L P accumulated 29,148 shares or 0.32% of the stock. Geneva Advsr Ltd has 52,657 shares for 0.11% of their US portfolio. The Kentucky-based Alphamark Advisors Limited Liability Corporation has invested 0.05% in Illinois Tool Works Inc. (NYSE:ITW). Gw Henssler Assocs Ltd last reported 0.69% of its portfolio in the stock. Nordea Management holds 0.01% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 27,385 shares. Financial Counselors holds 0.03% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 5,141 shares. Ubs Asset Americas holds 0.1% or 837,333 shares in its portfolio. Chevy Chase Tru Holdings owns 278,704 shares or 0.16% of their US portfolio. The California-based Reilly Financial has invested 0.01% in Illinois Tool Works Inc. (NYSE:ITW). Heritage Wealth Advsrs holds 0.18% or 2,616 shares in its portfolio. Trillium Asset Mgmt Limited Liability Company accumulated 0.79% or 114,527 shares. Citigroup Inc holds 0.02% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 169,054 shares. Wagner Bowman Mgmt Corporation holds 3,210 shares or 0.13% of its portfolio. The Rhode Island-based Parsons Ri has invested 0.04% in Illinois Tool Works Inc. (NYSE:ITW).

Insider Transactions: Since June 23, 2016, the stock had 1 insider purchase, and 8 insider sales for $19.91 million net activity. Shares for $544,920 were sold by NAGARAJAN SUNDARAM. SANTI ERNEST SCOTT had sold 74,077 shares worth $8.46M on Thursday, June 23. Shares for $1.79 million were sold by SCHEUNEMAN RANDALL J. Hartnett John R. had sold 7,500 shares worth $855,600. 16,403 Illinois Tool Works Inc. (NYSE:ITW) shares with value of $1.87M were sold by VALLS JUAN. Parry David C sold $4.74M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, August 11. Another trade for 4,000 shares valued at $447,760 was bought by Henderson Jay L.

Illinois Tool Works Inc. is a maker of a range of industrial products and equipment. The company has a market cap of $44.30 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 22.36 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: Seekingalpha.com which released: “Illinois Tool Works: As Shares Sell Off After Earnings, An Insider Buys Big” on November 07, 2016, also Forbes.com with their article: “June 2017 Options Now Available For Illinois Tool Works (ITW)” published on October 24, 2016, Forbes.com published: “Illinois Tool Works Reaches Analyst Target Price” on October 13, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Fool.com and their article: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” published on October 05, 2016 as well as Seekingalpha.com‘s news article titled: “Illinois Tool Works Delivering On The Growth Angle” with publication date: November 01, 2016.

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