Calamos Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 43,800 shares of the company’s stock after buying an additional 17 shares during the period. Calamos Advisors LLC’s holdings in Illinois Tool Works were worth $4,562,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ITW. Renaissance Technologies LLC bought a new position in Illinois Tool Works during the first quarter worth $55,010,000. PGGM Investments increased its position in Illinois Tool Works by 10.0% in the second quarter. PGGM Investments now owns 293,306 shares of the company’s stock worth $30,551,000 after buying an additional 26,733 shares in the last quarter. British Airways Pensions Investment Management Ltd increased its position in Illinois Tool Works by 20.2% in the second quarter. British Airways Pensions Investment Management Ltd now owns 349,270 shares of the company’s stock worth $36,524,000 after buying an additional 58,630 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Illinois Tool Works by 4.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 8,288 shares of the company’s stock worth $849,000 after buying an additional 317 shares in the last quarter. Finally, Confluence Investment Management LLC increased its position in Illinois Tool Works by 1.1% in the second quarter. Confluence Investment Management LLC now owns 294,246 shares of the company’s stock worth $30,649,000 after buying an additional 3,141 shares in the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.67% on Friday, reaching $119.84. 1,962,318 shares of the company’s stock traded hands. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $123.50. The firm has a market capitalization of $42.54 billion, a P/E ratio of 22.32 and a beta of 1.15. The company’s 50-day moving average is $118.79 and its 200-day moving average is $109.60.
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 Zacks’ consensus estimate 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 the consensus estimate of $3.41 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.17%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, September 28th. Illinois Tool Works’s payout ratio is currently 48.42%.
ITW has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, June 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $102.00 price target on shares of Illinois Tool Works in a research note on Thursday, August 25th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Illinois Tool Works in a research note on Tuesday, June 7th. Credit Suisse Group AG set a $114.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Thursday, July 21st. Finally, Robert W. Baird downgraded shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research note on Thursday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $108.43.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 4,560 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total value of $544,920.00. Following the completion of the sale, the insider now directly owns 24,777 shares of the company’s stock, valued at $2,960,851.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $113.99, for a total transaction of $1,595,860.00. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
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.
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