Shelter Mutual Insurance Co continued to hold its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,940 shares of the company’s stock at the end of the second quarter. Illinois Tool Works accounts for about 1.9% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 27th largest position. Shelter Mutual Insurance Co’s holdings in Illinois Tool Works were worth $6,347,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Dubuque Bank & Trust Co. raised its stake in shares of 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 acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $128,000. Washington Trust Bank raised its stake in shares of 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. acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $206,000. Finally, Oakworth Capital Inc. raised its stake in shares of 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. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.67% during mid-day trading on Friday, reaching $119.84. 1,962,318 shares of the company’s stock were exchanged. Illinois Tool Works Inc. has a 52-week low of $79.15 and a 52-week high of $123.50. The company has a 50-day moving average of $118.76 and a 200-day moving average of $109.44. The stock has a market cap of $42.54 billion, a price-to-earnings ratio of 22.32 and a beta of 1.15.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post $5.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 48.42%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Deutsche Bank AG boosted their price objective on shares of Illinois Tool Works from $119.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. Royal Bank Of Canada boosted their price objective 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. RBC Capital Markets restated a “sector perform” rating and set a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research note on Sunday, July 24th. Finally, Robert W. Baird lowered shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price objective on the stock. in a research note on Thursday, June 23rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $108.43.
In other news, CEO Ernest Scott Santi sold 74,077 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $114.24, for a total value of $8,462,556.48. Following the completion of the sale, the chief executive officer now owns 75,926 shares in the company, valued at $8,673,786.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Randall J. Scheuneman sold 15,641 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $114.21, for a total transaction of $1,786,358.61. Following the completion of the sale, the vice president now owns 19,791 shares of the company’s stock, valued at approximately $2,260,330.11. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
Illinois Tool Works Company Profile
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.