Smithfield Trust Co. held its position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the industrial products company’s stock at the close of the second quarter. Smithfield Trust Co.’s holdings in Illinois Tool Works were worth $967,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. FCM Investments TX bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $106,000. MCF Advisors LLC lifted its holdings in shares of 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 purchasing an additional 200 shares in the last quarter. TrimTabs Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 416 shares in the last quarter. FNY Partners Fund LP bought a new stake in shares of Illinois Tool Works in the first quarter valued at about $132,000. Finally, Hudock Capital Group LLC lifted its holdings in shares of 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 purchasing an additional 6 shares in the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
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A number of analysts have recently commented on the company. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley restated an “equal weight” rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Stifel Nicolaus restated a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. Northcoast Research restated a “neutral” rating on shares of Illinois Tool Works in a report on Tuesday, July 25th. Finally, BMO Capital Markets restated a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $150.64.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 142.85 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11. The company’s 50-day moving average price is $138.94 and its 200 day moving average price is $138.87.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Equities analysts predict that Illinois Tool Works Inc. will post $6.46 earnings per share for the current 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.18%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 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.
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