Ken Stern & Associates Inc. held its stake in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, Holdings Channel reports. The institutional investor owned 3,416 shares of the industrial products company’s stock at the end of the first quarter. Ken Stern & Associates Inc.’s holdings in Illinois Tool Works were worth $472,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Illinois Tool Works during the fourth quarter valued at $2,027,000. Perigon Wealth Management LLC increased its stake in Illinois Tool Works by 20.3% in the fourth quarter. Perigon Wealth Management LLC now owns 1,481 shares of the industrial products company’s stock valued at $199,000 after buying an additional 250 shares during the period. Park National Corp OH increased its stake in Illinois Tool Works by 1.2% in the first quarter. Park National Corp OH now owns 26,225 shares of the industrial products company’s stock valued at $3,474,000 after buying an additional 309 shares during the period. Liberty Capital Management Inc. increased its stake in Illinois Tool Works by 2.6% in the first quarter. Liberty Capital Management Inc. now owns 30,737 shares of the industrial products company’s stock valued at $4,072,000 after buying an additional 777 shares during the period. Finally, Franklin Street Advisors Inc. NC increased its stake in Illinois Tool Works by 2.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 4,092 shares of the industrial products company’s stock valued at $542,000 after buying an additional 92 shares during the period. 75.51% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (ITW) opened at 140.83 on Friday. The company has a market capitalization of $48.54 billion, a price-to-earnings ratio of 22.79 and a beta of 1.12. The company’s 50-day moving average price is $145.23 and its 200 day moving average price is $136.28. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post $6.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.60 annualized dividend and a yield of 1.85%. Illinois Tool Works’s payout ratio is 42.07%.
ITW has been the topic of several recent research reports. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Jefferies Group LLC reissued a “buy” rating and set a $155.00 price objective (up previously from $145.00) on shares of Illinois Tool Works in a report on Tuesday, April 11th. Credit Suisse Group set a $135.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a report on Wednesday, April 12th. Barclays PLC raised their price objective on Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Finally, BMO Capital Markets reissued a “buy” rating and set a $145.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 20th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $153.08.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 101,297 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the completion of the sale, the chief executive officer now directly owns 191,142 shares in the company, valued at $26,383,330.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the sale, the chief financial officer now owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,961 shares of company stock valued at $28,311,650. Company insiders own 0.90% of the company’s stock.
Illinois Tool Works Company Profile
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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
