Brick & Kyle Associates trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,501 shares of the industrial products company’s stock after selling 597 shares during the period. Illinois Tool Works comprises 2.5% of Brick & Kyle Associates’ investment portfolio, making the stock its 17th biggest holding. Brick & Kyle Associates’ holdings in Illinois Tool Works were worth $2,681,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bank purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $201,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Illinois Tool Works by 35.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,845 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 485 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $481,000. Meeder Asset Management Inc. purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $1,071,000. Finally, Corient Capital Partners LLC raised its stake in shares of Illinois Tool Works by 44.4% in the 1st quarter. Corient Capital Partners LLC now owns 8,632 shares of the industrial products company’s stock valued at $1,239,000 after acquiring an additional 2,655 shares during the period. 77.47% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP John R. Hartnett sold 14,323 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the transaction, the executive vice president now owns 31,695 shares in the company, valued at approximately $4,866,767.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the completion of the transaction, the vice president now owns 21,603 shares of the company’s stock, valued at approximately $3,244,122.51. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
NYSE ITW traded down $3.10 on Friday, hitting $155.54. 91,254 shares of the stock were exchanged, compared to its average volume of 1,133,413. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $160.78. The firm has a market cap of $51.68 billion, a P/E ratio of 20.47, a PEG ratio of 2.61 and a beta of 1.24. The firm has a 50-day simple moving average of $150.58.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the business posted $1.97 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post 7.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, June 27th. Illinois Tool Works’s payout ratio is 52.63%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. restated a “hold” rating and issued a $137.00 price objective on shares of Continental in a report on Friday, April 26th. Argus lifted their price objective on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $100.00 in a report on Tuesday, April 16th. Finally, Morgan Stanley set a $10.00 price objective on shares of Ford Motor and gave the company a “hold” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $139.60.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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