Private Wealth Partners LLC held its position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The fund owned 2,050 shares of the company’s stock at the end of the second quarter. Private Wealth Partners LLC’s holdings in Illinois Tool Works were worth $214,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Illinois Tool Works during the first quarter worth $548,000. Ngam Advisors L.P. raised its position in Illinois Tool Works by 10.4% in the first quarter. Ngam Advisors L.P. now owns 165,932 shares of the company’s stock worth $16,998,000 after buying an additional 15,678 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Illinois Tool Works by 6.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,221,219 shares of the company’s stock worth $125,102,000 after buying an additional 78,726 shares during the last quarter. Teachers Advisors Inc. raised its position in Illinois Tool Works by 16.2% in the first quarter. Teachers Advisors Inc. now owns 929,991 shares of the company’s stock worth $95,268,000 after buying an additional 129,914 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Illinois Tool Works by 160.1% in the first quarter. Prudential Financial Inc. now owns 1,091,590 shares of the company’s stock worth $111,823,000 after buying an additional 671,870 shares during 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 down 0.69% during midday trading on Tuesday, reaching $119.06. 1,724,092 shares of the company traded hands. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $123.50. The stock has a market capitalization of $42.26 billion, a price-to-earnings ratio of 22.17 and a beta of 1.11. The company’s 50 day moving average is $118.81 and its 200-day moving average is $110.03.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts forecast that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.65 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.55. This represents a $2.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 48.42%.
ITW has been the topic of a number of recent research reports. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Illinois Tool Works in a research report on Tuesday, June 7th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, June 21st. 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. Deutsche Bank AG lifted their target price 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. Finally, Royal Bank Of Canada lifted 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $108.43.
In other Illinois Tool Works news, Vice Chairman David C. Parry sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $118.49, for a total transaction of $4,739,600.00. Following the sale, the insider now directly owns 40,584 shares of the company’s stock, valued at approximately $4,808,798.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $501,600.00. Following the sale, the executive vice president now directly owns 24,777 shares in the company, valued at $2,725,470. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
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.
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