Weybosset Research & Management LLC maintained its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The institutional investor owned 2,900 shares of the company’s stock at the end of the second quarter. Weybosset Research & Management LLC’s holdings in Illinois Tool Works were worth $302,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at about $128,000. Washington Trust Bank boosted its position 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 period. Quadrant Capital Group LLC boosted its position in shares of Illinois Tool Works by 4.2% in the second quarter. Quadrant Capital Group LLC now owns 1,505 shares of the company’s stock valued at $151,000 after buying an additional 60 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Illinois Tool Works during the second quarter valued at about $206,000. Finally, Oakworth Capital Inc. boosted its position 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 period. 74.90% of the stock is owned by institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.28% during midday trading on Thursday, reaching $119.60. The company’s stock had a trading volume of 780,008 shares. 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 is $118.84 and its 200 day moving average is $110.10. The firm has a market capitalization of $42.45 billion, a P/E ratio of 22.27 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.06. The company had revenue of $3.43 billion for 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 business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. Analysts expect that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 30th will be issued a dividend of $0.65 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.18%. 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 48.42%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Deutsche Bank AG boosted their price objective on Illinois Tool Works from $119.00 to $128.00 and gave the company a “buy” rating in a report on Friday, July 15th. Royal Bank Of Canada boosted their price objective on Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 21st. Robert W. Baird cut Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price objective for the company. in a report on Thursday, June 23rd. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $104.00 price objective (up previously from $101.00) on shares of Illinois Tool Works in a report on Sunday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $108.43.
In related news, insider Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $119.50, for a total transaction of $544,920.00. Following the transaction, the insider now owns 24,777 shares of the company’s stock, valued at $2,960,851.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Randall J. Scheuneman sold 15,641 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $114.21, for a total value of $1,786,358.61. Following the transaction, the vice president now directly owns 19,791 shares in the company, valued at approximately $2,260,330.11. The disclosure for this sale can be found here. Corporate 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.