Spearhead Capital Advisors LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 28,688 shares of the industrial products company’s stock after purchasing an additional 1,446 shares during the period. Spearhead Capital Advisors LLC’s holdings in Illinois Tool Works were worth $4,326,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Farmers Trust Co. lifted its position in shares of Illinois Tool Works by 4.0% in the first quarter. Farmers Trust Co. now owns 1,808 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 69 shares in the last quarter. Exeter Financial LLC lifted its position in shares of Illinois Tool Works by 1.0% in the first quarter. Exeter Financial LLC now owns 7,363 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 71 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Illinois Tool Works by 11.8% in the first quarter. Valeo Financial Advisors LLC now owns 713 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 75 shares in the last quarter. ETF Managers Group LLC lifted its position in shares of Illinois Tool Works by 8.9% in the first quarter. ETF Managers Group LLC now owns 926 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 76 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its position in shares of Illinois Tool Works by 3.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,156 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 79 shares in the last quarter. 77.47% of the stock is owned by institutional investors and hedge funds.
In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 in the company, valued at $3,244,122.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John R. Hartnett sold 14,323 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 31,695 shares in the company, valued at $4,866,767.25. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
Shares of NYSE:ITW traded down $2.49 during mid-day trading on Friday, reaching $156.15. The stock had a trading volume of 136,022 shares, compared to its average volume of 1,133,413. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.19 and a current ratio of 1.53. The firm has a market cap of $51.68 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.61 and a beta of 1.24. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $160.78. The business has a 50 day moving average of $150.58.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the business earned $1.97 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.89 EPS for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.56%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.
Several brokerages have recently commented on ITW. Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $100.00 in a research report on Tuesday, April 16th. Northcoast Research downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a research report on Wednesday, June 26th. Morgan Stanley set a $10.00 price objective on Ford Motor and gave the company a “hold” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $137.00 target price on shares of Continental in a research report on Friday, April 26th. Finally, Argus boosted their target price on Waste Management from $110.00 to $115.00 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 assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $139.60.
Illinois Tool Works 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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