Financial Counselors Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,702 shares of the industrial products company’s stock after purchasing an additional 30 shares during the period. Financial Counselors Inc.’s holdings in Illinois Tool Works were worth $960,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Jackson Wealth Management LLC purchased a new stake in Illinois Tool Works during the 2nd quarter worth approximately $1,517,000. Aberdeen Asset Management PLC UK boosted its holdings in shares of Illinois Tool Works by 2.3% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 152,352 shares of the industrial products company’s stock valued at $21,824,000 after acquiring an additional 3,445 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Illinois Tool Works by 1.1% in the 2nd quarter. Eaton Vance Management now owns 1,170,927 shares of the industrial products company’s stock valued at $167,735,000 after acquiring an additional 12,264 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Illinois Tool Works by 5.4% in the 2nd quarter. Private Advisor Group LLC now owns 13,142 shares of the industrial products company’s stock valued at $1,921,000 after acquiring an additional 669 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $1,802,000. 74.79% of the stock is currently owned by institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 153.23 on Friday. The stock has a market capitalization of $52.73 billion, a P/E ratio of 24.79 and a beta of 1.12. The company’s 50-day moving average is $144.67 and its 200-day moving average is $141.19. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $153.35.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the firm posted $1.46 EPS. Illinois Tool Works’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.
Several analysts have recently commented on the stock. J P Morgan Chase & Co raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $132.00 to $140.00 in a report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and issued a $171.00 price objective (up from $162.00) on shares of Illinois Tool Works in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $147.00 price objective (up from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $143.00 price objective on shares of Illinois Tool Works in a report on Wednesday, September 13th. Finally, BidaskClub downgraded shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $152.71.
In related news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.
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