Illinois Tool Works Inc. (ITW) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,577 shares of the company’s stock after selling 1,258 shares during the period. Tocqueville Asset Management L.P.’s holdings in Illinois Tool Works were worth $16,517,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in ITW. Citizens Financial Group Inc RI raised its stake in shares of Illinois Tool Works by 2,394.4% in the first quarter. Citizens Financial Group Inc RI now owns 58,892 shares of the company’s stock valued at $6,032,000 after buying an additional 56,531 shares during the period. Thomaspartners Inc. raised its position in Illinois Tool Works by 1.8% in the first quarter. Thomaspartners Inc. now owns 1,391,717 shares of the company’s stock worth $142,567,000 after buying an additional 25,150 shares during the last quarter. HBK Investments L P raised its position in Illinois Tool Works by 96.0% in the first quarter. HBK Investments L P now owns 37,517 shares of the company’s stock worth $3,843,000 after buying an additional 18,380 shares during the last quarter. Ironwood Investment Counsel LLC raised its position in Illinois Tool Works by 1.8% in the first quarter. Ironwood Investment Counsel LLC now owns 5,700 shares of the company’s stock worth $583,000 after buying an additional 100 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Illinois Tool Works by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,680,001 shares of the company’s stock worth $273,988,000 after buying an additional 136,475 shares during the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.04% during midday trading on Friday, reaching $115.89. 1,195,287 shares of the company traded hands. The stock has a market capitalization of $41.14 billion, a price-to-earnings ratio of 21.58 and a beta of 1.11. The company’s 50 day moving average is $118.29 and its 200-day moving average is $110.72. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $123.50.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.06. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post $5.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, September 30th were paid a dividend of $0.65 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.55. This represents a $2.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 48.42%.
ITW has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, June 21st. Robert W. Baird lowered shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price target on the stock. in a research report on Thursday, June 23rd. Deutsche Bank AG boosted their price target on shares of Illinois Tool Works from $119.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Royal Bank Of Canada boosted their price target on shares of Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 21st. Finally, Credit Suisse Group AG set a $114.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $110.20.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total transaction of $544,920.00. Following the sale, the insider now directly owns 24,777 shares of the company’s stock, valued at approximately $2,960,851.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman David C. Parry sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $118.49, for a total transaction of $4,739,600.00. Following the sale, the insider now directly owns 40,584 shares in the company, valued at $4,808,798.16. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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