Illinois Tool Works Inc. (ITW) Shares Sold by First Manhattan Co.

First Manhattan Co. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,001 shares of the industrial products company’s stock after selling 2,583 shares during the quarter. First Manhattan Co.’s holdings in Illinois Tool Works were worth $6,303,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FCM Investments TX purchased a new position in Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC boosted its stake in Illinois Tool Works by 32.0% during the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $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% during the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares during the period. FNY Partners Fund LP purchased a new position in Illinois Tool Works during the first quarter worth about $132,000. Finally, Hudock Capital Group LLC boosted its stake in Illinois Tool Works by 0.6% during the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares during the period. 74.86% of the stock is owned by institutional investors.

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Several brokerages have weighed in on ITW. BidaskClub lowered shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Robert W. Baird set a $145.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Thursday, August 24th. J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $141.00 to $132.00 in a research note on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $150.64.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 140.04 on Monday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The firm has a market cap of $48.19 billion, a PE ratio of 22.66 and a beta of 1.11. The company has a 50-day moving average of $139.10 and a 200 day moving average of $138.67.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The business 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 2.23%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio is currently 42.07%.

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.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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