Illinois Tool Works Inc. (ITW): Hedge Fund Interest Inching Up
Illinois Tool Works Inc. (ITW): Hedge Fund Interest Inching Up
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought Illinois Tool Works Inc. (NYSE:ITW) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.
最新的13F報告期來了又去，內幕猴子已經翻遍了美國證券交易委員會要求對衝基金和知名價值投資者提交的823份13F備案文件。13F文件顯示了截至6月30日這些基金和投資者的投資組合頭寸，當時標準普爾500指數在3100點附近交易。自3月底以來，投資者決定押注經濟復甦和股市反彈。標準普爾500指數自觸底以來回報率超過50%。在本文中，您將瞭解對衝基金是否認為伊利諾伊機械。(紐約證券交易所股票代碼：ITW)是進入第三季度的一項很好的投資，以及與頂級對衝基金相比該股的交易情況。
Illinois Tool Works Inc. (NYSE: ITW)has experienced an increase in hedge fund sentiment in recent months. Illinois Tool Works Inc. (NYSE:ITW) was in 35 hedge funds' portfolios at the end of June. The all time high for this statistics is 38. Our calculations also showed that ITW isn't among the30 most popular stocks among hedge funds(click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.
伊利諾伊機械。(紐約證券交易所：最近幾個月，對衝基金投資者對ITW(ITW：行情)的信心有所上升.截至6月底，伊利諾伊機械(紐約證券交易所代碼：ITW)在35家對衝基金的投資組合中。這一統計數據的歷史最高值為38。我們的計算還顯示，ITW不在對衝基金最受歡迎的30只股票之列(點擊查看第二季度排名，查看視頻快速瀏覽前5只股票)。視頻：觀看我們關於最受歡迎的5只對衝基金股票的視頻。
To the average investor there are numerous indicators investors put to use to size up publicly traded companies. Some of the most useful indicators are hedge fund and insider trading activity. Our researchers have shown that, historically, those who follow the best picks of the best investment managers can beat the market by a significant amount (see the details here).
對於普通投資者來説，投資者用來評估上市公司的指標有很多。一些最有用的指標是對衝基金和內幕交易活動。我們的研究人員已經證明，從歷史上看，那些遵循最好的投資經理選擇的人可以顯著超越市場(請參見此處的詳細信息)。
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost precious metals prices. So, we are checking out this junior gold mining stock . Legal marijuana is one of the fastest growing industries right now, so we are also checking out stock pitches like “ the Starbucks of cannabis ” to identify the next tenbagger. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Now we're going to check out the key hedge fund action regarding Illinois Tool Works Inc. (NYSE:ITW).
在Insider Monkey，我們搜索多個來源，以發現下一個偉大的投資想法。例如，美聯儲一直在通過電子手段創造數萬億美元，以將利率保持在接近零的水平。我們認為這將導致通脹並提振貴金屬價格。所以，我們正在調查這件事初級金礦股。合法大麻是目前增長最快的行業之一，所以我們也在檢查股票推介，比如這個星巴克大麻的數量“來辨認下一個刺客。我們閲讀對衝基金投資者的信件，並在對衝基金會議上聽取股票推介。我們看了一下清單，比如10最賺錢的公司在世界上挑選最好的大盤股來購買。儘管我們只推薦了我們分析的公司中的一小部分，但我們會盡可能多地查看股票。現在我們來看看對衝基金對伊利諾伊機械採取的關鍵行動。
What have hedge funds been doing with Illinois Tool Works Inc. (NYSE:ITW)?
對衝基金對伊利諾伊機械做了什麼？
At the end of June, a total of 35 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 3% from the first quarter of 2020. By comparison, 28 hedge funds held shares or bullish call options in ITW a year ago. With hedge funds' capital changing hands, there exists a few notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).
截至6月底，Insider Monkey追蹤的對衝基金中共有35家持有該股的多頭頭寸，較2020年第一季度變動3%。相比之下，一年前有28家對衝基金持有ITW的股票或看漲期權。隨着對衝基金的資本易手，一些著名的對衝基金經理正在大幅增持股份(或者已經積累了大量頭寸)。
More specifically, AQR Capital Management was the largest shareholder of Illinois Tool Works Inc. (NYSE:ITW), with a stake worth $94.1 million reported as of the end of September. Trailing AQR Capital Management was Citadel Investment Group, which amassed a stake valued at $81.2 million. Balyasny Asset Management, Arrowstreet Capital, and Markel Gayner Asset Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each positionJade Capital Advisorsallocated the biggest weight to Illinois Tool Works Inc. (NYSE:ITW), around 5.58% of its 13F portfolio.Arjuna Capitalis also relatively very bullish on the stock, setting aside 2 percent of its 13F equity portfolio to ITW.
更具體地説，AQR資本管理公司是伊利諾伊機械(紐約證券交易所代碼：ITW)的最大股東，截至9月底，該公司持有價值9,410萬美元的股份。排在AQR資本管理公司之後的是Citadel Investment Group，它積累了價值8120萬美元的股份。Balyasny Asset Management、ArrowStreet Capital和Markel Gayner Asset Management也非常喜歡該股，成為該公司最大的對衝基金持有者之一。就每個頭寸的投資組合權重而言，翡翠資本顧問將最大的權重分配給了伊利諾伊機械(紐約證券交易所股票代碼：ITW)，約佔其13F投資組合的5.58%。Arjua Capitaris也相對非常看好該股，將其13F股票投資組合中的2%撥給了ITW。
As industrywide interest jumped, key money managers have jumped into Illinois Tool Works Inc. (NYSE:ITW) headfirst. Balyasny Asset Management, managed by Dmitry Balyasny, established the biggest position in Illinois Tool Works Inc. (NYSE:ITW). Balyasny Asset Management had $61.2 million invested in the company at the end of the quarter. Steve Cohen'sPoint72 Asset Managementalso made a $42.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander's Millennium Management, Robert Vincent McHugh's Jade Capital Advisors, and Donald Sussman's Paloma Partners.
隨着全行業對伊利諾伊機械的興趣大增，關鍵的基金經理們紛紛搶先買入該股。由Dmitry Balyasny管理的Balyasny資產管理公司在伊利諾伊機械(紐約證券交易所代碼：ITW)建立了最大的頭寸。截至季度末，Balyasny Asset Management在該公司的投資為6120萬美元。史蒂夫·科恩的Point72資產管理公司在本季度也對該股進行了4280萬美元的投資。其他持有該股新頭寸的基金包括以色列英格蘭德的千禧管理公司、羅伯特·文森特·麥克休的Jade Capital Advisors和唐納德·薩斯曼的Paloma Partners。
Let's check out hedge fund activity in other stocks similar to Illinois Tool Works Inc. (NYSE:ITW). We will take a look at America Movil SAB de CV (NYSE:AMX), The Southern Company (NYSE:SO), Illumina, Inc. (NASDAQ:ILMN), Marsh & McLennan Companies, Inc. (NYSE:MMC), Uber Technologies, Inc. (NYSE:UBER), Petroleo Brasileiro S.A. - Petrobras (NYSE:PBR), and CSX Corporation (NYSE:CSX). This group of stocks' market values match ITW's market value.
讓我們來看看類似伊利諾伊機械的其他股票的對衝基金活動。我們來看看美國移動公司SAB de CV(紐約證券交易所代碼：AMX)，南方公司(紐約證券交易所：所以), Illumina，Inc.。(納斯達克：ILMN)，達信麥克倫南公司。(紐約證券交易所代碼：MMC)，優步技術公司。(紐約證券交易所股票代碼：UBER)，Petroleo Brasileiro S.A.-Petrobras(紐約證券交易所：PBR)，以及CSX公司(紐約證券交易所代碼：CSX)。這組股票的市值與ITW的市值相匹配。
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position AMX,11,97994,0 SO,38,360503,5 ILMN,41,1193190,7 MMC,38,846796,1 UBER,94,5388672,-3 PBR,29,1409778,-3 CSX,46,2290942,-11 Average,42.4,1655411,-0.6 [/table]
[表格]股票代碼，有位置的高頻數量，高頻位置的總值(X1000)，高頻位置變化AMX，11,9994，0 SO，38,360503，5 ILMN，41,1193190，7 MMC，38,846796，1 Uber，94,5388672，-3 PBR，29,1409778，-3 CSX，46,2290942，-11平均值，42.4,1655411，-0.6[/表]
View table hereif you experience formatting issues.
如果您遇到格式問題，請查看此處的表格。
As you can see these stocks had an average of 42.4 hedge funds with bullish positions and the average amount invested in these stocks was $1655 million. That figure was $565 million in ITW's case. Uber Technologies, Inc. (NYSE:UBER) is the most popular stock in this table. On the other hand America Movil SAB de CV (NYSE:AMX) is the least popular one with only 11 bullish hedge fund positions. Illinois Tool Works Inc. (NYSE:ITW) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for ITW is 48.1. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 10 most popular stocksamong hedge funds returned 41.4% in 2019 and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. These stocks gained 33% in 2020 through the end of August and surpassed the market by 23.2 percentage points. Unfortunately ITW wasn't nearly as popular as these 10 stocks (hedge fund sentiment was quite bearish); ITW investors were disappointed as the stock returned 13% since Q2 and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 10 most popular stocksamong hedge funds as most of these stocks already outperformed the market in 2020.
正如你所看到的，這些股票平均有42.4只對衝基金持有看漲頭寸，平均投資於這些股票的金額為1.655億美元。在ITW的案例中，這一數字是5.65億美元。優步技術公司(紐約證券交易所代碼：Uber)是這份表格中最受歡迎的股票。另一方面，美國移動SAB de CV(紐約證券交易所代碼：AMX)是最不受歡迎的，只有11個看漲對衝基金頭寸。伊利諾伊機械並不是這一羣體中最不受歡迎的股票，但對衝基金的興趣仍然低於平均水平。我們對ITW的整體對衝基金情緒得分為48.1分。相對於其他股票，對衝基金持倉數量較多的股票，以及相對於其歷史區間的股票，獲得更高的情緒得分。這是一個略微負面的信號，我們寧願把時間花在研究對衝基金正在堆積的股票上。我們的計算顯示，對衝基金中最受歡迎的10只股票在2019年的回報率為41.4%，表現比標準普爾500指數ETF(標普500ETF)高出10.1個百分點。截至8月底，這些股票在2020年上漲了33%，比大盤高出23.2個百分點。不幸的是，ITW遠沒有這10只股票那麼受歡迎(對衝基金的情緒相當悲觀)；ITW的投資者感到失望，因為該股自第二季度以來回報率為13%，表現遜於大盤。如果你有興趣投資具有巨大上漲潛力的大盤股，你應該看看對衝基金中最受歡迎的10只股票，因為這些股票中的大多數在2020年已經跑贏了市場。
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Disclosure: None. This article was originally published atInsider Monkey.
披露：沒有。本文最初發表在《內幕猴子》雜誌上。
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