L & S Advisors Inc acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,181 shares of the industrial products company’s stock, valued at approximately $3,177,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Quantbot Technologies LP increased its stake in Illinois Tool Works by 71.3% in the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock worth $3,600,000 after acquiring an additional 10,457 shares during the last quarter. Ffcm LLC increased its stake in Illinois Tool Works by 6.4% in the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock worth $1,698,000 after acquiring an additional 714 shares during the last quarter. Oakmont Partners LLC increased its stake in Illinois Tool Works by 51.1% in the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 5,362 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in Illinois Tool Works by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after acquiring an additional 786 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Illinois Tool Works by 100.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after acquiring an additional 707,287 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE ITW) traded up $0.79 during trading on Friday, reaching $157.14. The company’s stock had a trading volume of 757,000 shares, compared to its average volume of 1,212,340. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. The stock has a market cap of $53,565.36, a P/E ratio of 24.82, a PEG ratio of 2.34 and a beta of 1.16. Illinois Tool Works Inc. has a twelve month low of $120.06 and a twelve month high of $159.36.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. analysts expect that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.99%. Illinois Tool Works’s dividend payout ratio is currently 47.78%.
A number of equities analysts have recently commented on ITW shares. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Royal Bank of Canada lifted their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Morgan Stanley boosted their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $157.27.
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In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total value of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders have sold 126,506 shares of company stock worth $19,801,832 in the last quarter. 0.90% of the stock is currently owned by company insiders.
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.
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