Capital Investment Advisors LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,644 shares of the industrial products company’s stock after purchasing an additional 3,435 shares during the quarter. Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $7,788,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ITW. American National Bank grew its position in shares of Illinois Tool Works by 20.8% during the second quarter. American National Bank now owns 2,373 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 408 shares in the last quarter. Foster & Motley Inc. grew its position in Illinois Tool Works by 3.6% in the second quarter. Foster & Motley Inc. now owns 4,745 shares of the industrial products company’s stock worth $716,000 after acquiring an additional 163 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in Illinois Tool Works by 17.9% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 13,677 shares of the industrial products company’s stock worth $2,042,000 after acquiring an additional 2,080 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Illinois Tool Works by 16.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 126,554 shares of the industrial products company’s stock worth $19,086,000 after acquiring an additional 17,700 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in Illinois Tool Works by 9,760.0% in the second quarter. NEXT Financial Group Inc now owns 1,479 shares of the industrial products company’s stock worth $223,000 after acquiring an additional 1,464 shares in the last quarter. 77.47% of the stock is currently owned by institutional investors.
Shares of NYSE:ITW traded down $2.49 during trading hours on Friday, hitting $156.15. 136,022 shares of the company’s stock traded hands, compared to its average volume of 1,133,413. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $160.78. The firm has a fifty day simple moving average of $150.58. The firm has a market cap of $51.68 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.61 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 1.87.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.02. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 7.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.56%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.
In other news, EVP John R. Hartnett sold 14,323 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the completion of the sale, the executive vice president now owns 31,695 shares of the company’s stock, valued at $4,866,767.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Randall J. Scheuneman sold 14,931 shares of Illinois Tool Works stock in a transaction that occurred 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 sale, the vice president now directly 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. 0.87% of the stock is owned by insiders.
Several research analysts recently commented on the company. Northcoast Research lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target for the company. in a research report on Wednesday, June 26th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $100.00 in a research report on Tuesday, April 16th. Morgan Stanley set a $10.00 price target on Ford Motor and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Citigroup set a $221.00 price target on 3M and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $139.60.
Illinois Tool Works Company Profile
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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