Quadrant Capital Group LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,505 shares of the company’s stock after buying an additional 60 shares during the period. Quadrant Capital Group LLC’s holdings in Illinois Tool Works were worth $151,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. LMR Partners LLP increased its position in shares of Illinois Tool Works by 196.5% in the second quarter. LMR Partners LLP now owns 14,212 shares of the company’s stock valued at $1,480,000 after buying an additional 9,419 shares during the period. Trillium Asset Management LLC increased its position in shares of Illinois Tool Works by 2.9% in the second quarter. Trillium Asset Management LLC now owns 114,527 shares of the company’s stock valued at $11,929,000 after buying an additional 3,184 shares during the period. Advisory Services Network LLC increased its position in shares of Illinois Tool Works by 8.0% in the second quarter. Advisory Services Network LLC now owns 3,543 shares of the company’s stock valued at $369,000 after buying an additional 262 shares during the period. Ariel Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $310,000. Finally, ING Groep NV bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $576,000. Institutional investors own 74.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 1.97% on Friday, hitting $117.20. The company’s stock had a trading volume of 2,175,563 shares. 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 cap of $41.60 billion, a price-to-earnings ratio of 21.82 and a beta of 1.11. The stock’s 50-day moving average price is $118.85 and its 200-day moving average price is $110.17.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business 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 firm’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. Equities analysts expect that Illinois Tool Works Inc. will post $5.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, September 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.22%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio is currently 48.42%.
Several equities analysts have commented on the company. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. RBC Capital Markets reissued a “sector perform” rating and issued a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. Credit Suisse Group AG set a $114.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, July 21st. Finally, Royal Bank Of Canada increased their price objective on Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $108.43.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 4,560 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $119.50, for a total value of $544,920.00. Following the transaction, the insider now directly owns 24,777 shares of the company’s stock, valued at approximately $2,960,851.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ernest Scott Santi sold 74,077 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 75,926 shares in the company, valued at $8,673,786.24. The disclosure for this sale can be found here. 0.80% of the stock is 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.
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