Argyle Capital Management Inc. maintained its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Illinois Tool Works were worth $521,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Dubuque Bank & Trust Co. raised its stake in Illinois Tool Works by 7.7% in the first quarter. Dubuque Bank & Trust Co. now owns 1,148 shares of the company’s stock valued at $118,000 after buying an additional 82 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in Illinois Tool Works during the second quarter valued at about $128,000. Washington Trust Bank raised its stake in Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock valued at $145,000 after buying an additional 25 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in Illinois Tool Works during the second quarter valued at about $206,000. Finally, Oakworth Capital Inc. raised its stake in Illinois Tool Works by 6.9% in the second quarter. Oakworth Capital Inc. now owns 1,994 shares of the company’s stock valued at $212,000 after buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.07% during trading on Monday, reaching $117.73. 1,134,021 shares of the company traded hands. The firm has a market capitalization of $41.79 billion, a price-to-earnings ratio of 21.92 and a beta of 1.15. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $123.50. The company’s 50-day moving average price is $118.60 and its 200 day moving average price is $108.83.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.40 by $0.06. The business earned $3.43 billion during the quarter, compared to analyst estimates of $3.41 billion. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. On average, equities research analysts expect that Illinois Tool Works Inc. will post $5.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be given a dividend of $0.65 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a yield of 2.21%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. Illinois Tool Works’s dividend payout ratio (DPR) is currently 40.97%.
Several research firms have recently issued reports on ITW. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, July 25th. Credit Suisse Group AG set a $114.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Thursday, July 21st. Robert W. Baird lowered shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 target price for the company. in a research note on Thursday, June 23rd. RBC Capital Markets reiterated a “sector perform” rating and issued a $104.00 target price (up previously from $101.00) on shares of Illinois Tool Works in a research note on Sunday, July 24th. Finally, Royal Bank Of Canada upped their target price on shares of Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 21st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $108.43.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 74,077 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $114.24, for a total transaction of $8,462,556.48. Following the completion of the transaction, the chief executive officer now owns 75,926 shares of the company’s stock, valued at $8,673,786.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $501,600.00. Following the transaction, the executive vice president now directly owns 24,777 shares of the company’s stock, valued at approximately $2,725,470. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. 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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.