Hudson Valley Investment Advisors Inc. ADV reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,360 shares of the industrial products company’s stock after selling 400 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Illinois Tool Works were worth $507,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC grew its stake in Illinois Tool Works by 15,116.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after buying an additional 656,821 shares during the last quarter. Ellis Investment Partners LLC lifted its holdings in shares of Illinois Tool Works by 14,261.0% during the 1st quarter. Ellis Investment Partners LLC now owns 390,476 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 387,757 shares during the period. First Trust Advisors LP lifted its holdings in shares of Illinois Tool Works by 144.7% during the 1st quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock worth $77,613,000 after acquiring an additional 319,752 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after acquiring an additional 227,625 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $21,156,000. 77.88% of the stock is currently owned by institutional investors and hedge funds.
Illinois Tool Works stock opened at $146.62 on Friday. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $160.78. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.55 and a beta of 1.23. The firm’s fifty day moving average price is $150.92 and its two-hundred day moving average price is $148.26. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the firm earned $1.97 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts forecast that Illinois Tool Works Inc. will post 7.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be paid a $1.07 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.92%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.
In other news, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the completion of the sale, the insider now directly owns 16,315 shares in the company, valued at approximately $2,610,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Randall J. Scheuneman sold 14,931 shares of the business’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 completion of the sale, the vice president now owns 21,603 shares of the company’s stock, valued at $3,244,122.51. The disclosure for this sale can be found here. Insiders sold 72,878 shares of company stock valued at $11,313,386 in the last quarter. Corporate insiders own 0.87% of the company’s stock.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $120.00 to $144.00 in a research report on Friday, April 26th. Citigroup set a $161.00 price objective on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Friday, April 26th. UBS Group upped their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target for the company. in a research report on Tuesday, July 9th. Finally, Argus upped their price target on shares of Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $142.33.
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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