Segall Bryant & Hamill LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 367,643 shares of the industrial products company’s stock after selling 9,498 shares during the period. Illinois Tool Works accounts for about 1.3% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 10th largest holding. Segall Bryant & Hamill LLC owned 0.11% of Illinois Tool Works worth $57,595,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ITW. TLP Group LLC bought a new stake in Illinois Tool Works in the 1st quarter valued at about $429,000. Sciencast Management LP increased its position in Illinois Tool Works by 712.7% in the 1st quarter. Sciencast Management LP now owns 9,825 shares of the industrial products company’s stock valued at $1,552,000 after acquiring an additional 8,616 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Illinois Tool Works by 1.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 516,203 shares of the industrial products company’s stock valued at $80,868,000 after acquiring an additional 9,042 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Illinois Tool Works during the first quarter worth $987,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Illinois Tool Works by 212.2% during the first quarter. Cubist Systematic Strategies LLC now owns 38,369 shares of the industrial products company’s stock worth $6,011,000 after buying an additional 26,078 shares during the period. 77.18% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on ITW. ValuEngine cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating for the company in a research report on Monday, April 16th. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, March 19th. BMO Capital Markets decreased their price objective on shares of Illinois Tool Works from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Friday, May 4th. Finally, Goldman Sachs Group upgraded shares of Illinois Tool Works from a “buy” rating to a “conviction-buy” rating and decreased their price objective for the stock from $191.00 to $177.00 in a research report on Tuesday, April 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $177.67.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.04. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Illinois Tool Works had a net margin of 12.36% and a return on equity of 51.79%. Illinois Tool Works’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. equities analysts predict that Illinois Tool Works Inc. will post 7.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 29th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 47.34%.
Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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