Headinvest LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,060 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Headinvest LLC’s holdings in Illinois Tool Works were worth $295,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of ITW. Kentucky Retirement Systems bought a new stake in Illinois Tool Works during the fourth quarter worth about $2,807,000. Bremer Trust National Association raised its stake in Illinois Tool Works by 1.7% in the first quarter. Bremer Trust National Association now owns 23,697 shares of the industrial products company’s stock worth $3,139,000 after buying an additional 402 shares in the last quarter. Elkhorn Investments LLC bought a new stake in Illinois Tool Works during the first quarter worth about $1,284,000. HighPoint Advisor Group LLC raised its stake in Illinois Tool Works by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,947 shares of the industrial products company’s stock worth $1,207,000 after buying an additional 33 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Illinois Tool Works by 1.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,425 shares of the industrial products company’s stock worth $1,043,000 after buying an additional 91 shares in the last quarter. 75.47% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE ITW) opened at 147.12 on Friday. The stock has a market cap of $50.82 billion, a P/E ratio of 24.71 and a beta of 1.12. The company’s 50-day moving average price is $145.53 and its 200-day moving average price is $135.52. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. Illinois Tool Works’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Analysts predict that Illinois Tool Works Inc. will post $6.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 43.70%.
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A number of equities research analysts have issued reports on ITW shares. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised Illinois Tool Works from a “sell” rating to a “buy” rating and raised their target price for the stock from $131.00 to $155.00 in a research report on Thursday, June 1st. BidaskClub lowered Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Stifel Nicolaus lowered Illinois Tool Works from a “buy” rating to a “hold” rating and raised their target price for the stock from $135.00 to $140.00 in a research report on Monday, March 27th. Finally, Credit Suisse Group set a $135.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $148.69.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 101,297 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the completion of the transaction, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at approximately $26,383,330.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John R. Hartnett sold 11,750 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The disclosure for this sale can be found here. Insiders sold a total of 220,850 shares of company stock valued at $30,945,971 over the last three months. Corporate insiders own 0.90% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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