BB&T Securities LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 158,815 shares of the industrial products company’s stock after buying an additional 1,696 shares during the period. BB&T Securities LLC’s holdings in Illinois Tool Works were worth $21,038,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. FCM Investments TX purchased a new stake in Illinois Tool Works during the first quarter valued at approximately $106,000. MCF Advisors LLC boosted its stake in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares during the period. TrimTabs Asset Management LLC boosted its stake in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares during the period. Hudock Capital Group LLC boosted its stake in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares during the period. Finally, Baystate Wealth Management LLC boosted its stake in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock valued at $182,000 after buying an additional 263 shares during the period. Institutional investors own 74.77% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 0.38% during trading on Friday, reaching $135.67. 1,123,747 shares of the company’s stock were exchanged. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The company’s 50-day moving average price is $142.70 and its 200 day moving average price is $137.72. The firm has a market capitalization of $46.69 billion, a PE ratio of 21.95 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the company earned $1.46 EPS. Illinois Tool Works’s revenue was up 4.9% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.30%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 42.07%.
Several brokerages recently commented on ITW. BMO Capital Markets reiterated a “buy” rating and issued a $145.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 20th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and raised their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $155.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, May 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $160.00 price objective (up previously from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $151.08.
In other Illinois Tool Works news, 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 completion of the sale, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John R. Hartnett sold 11,750 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the sale, 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 have sold 100,664 shares of company stock valued at $14,329,625 over the last ninety days. 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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