Commonwealth Equity Services LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,953 shares of the industrial products company’s stock after selling 1,369 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Illinois Tool Works worth $47,269,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Illinois Tool Works by 293.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,135 shares of the industrial products company’s stock valued at $7,288,000 after buying an additional 21,730 shares in the last quarter. Core Alternative Capital grew its holdings in shares of Illinois Tool Works by 9.3% during the second quarter. Core Alternative Capital now owns 11,364 shares of the industrial products company’s stock valued at $2,843,000 after buying an additional 967 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Illinois Tool Works by 28.5% during the second quarter. Foundations Investment Advisors LLC now owns 1,340 shares of the industrial products company’s stock valued at $335,000 after buying an additional 297 shares in the last quarter. National Bank of Canada FI boosted its position in Illinois Tool Works by 44.6% during the second quarter. National Bank of Canada FI now owns 73,596 shares of the industrial products company’s stock valued at $18,440,000 after purchasing an additional 22,701 shares during the last quarter. Finally, One Capital Management LLC acquired a new stake in Illinois Tool Works during the first quarter valued at $249,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Credit Suisse Group lifted their price objective on Illinois Tool Works from $281.00 to $292.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Morgan Stanley lifted their price objective on Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a research report on Thursday, August 3rd. Barclays reduced their price objective on Illinois Tool Works from $213.00 to $198.00 in a research report on Thursday, September 7th. Finally, StockNews.com started coverage on Illinois Tool Works in a research report on Thursday, October 5th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $238.25.
Illinois Tool Works Trading Up 0.4 %
ITW stock opened at $239.92 on Friday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $264.19. The firm has a market cap of $72.19 billion, a P/E ratio of 23.27, a P/E/G ratio of 4.56 and a beta of 1.14. The business’s 50 day moving average is $231.89 and its 200-day moving average is $237.75. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 2.27.
Illinois Tool Works (NYSE:ITW – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a return on equity of 95.68% and a net margin of 19.55%. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company posted $2.35 EPS. The company’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 9.68 earnings per share for the current fiscal year.
Illinois Tool Works Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be paid a $1.40 dividend. The ex-dividend date is Thursday, December 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio is currently 54.32%.
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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