Cadinha & Co. LLC Has $325,000 Position in Illinois Tool Works Inc. (ITW)
Cadinha & Co. LLC continued to hold its position in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,455 shares of the industrial products company’s stock at the end of the first quarter. Cadinha & Co. LLC’s holdings in Illinois Tool Works were worth $325,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ITW. FCM Investments TX acquired a new position in shares of Illinois Tool Works during the first quarter worth $106,000. MCF Advisors LLC raised its position 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 worth $109,000 after buying an additional 200 shares during the period. TrimTabs Asset Management LLC raised its position 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 worth $118,000 after buying an additional 416 shares during the period. Hudock Capital Group LLC raised its position 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 worth $139,000 after buying an additional 6 shares during the period. Finally, LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $162,000. 75.32% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.24% on Thursday, reaching $141.43. The company’s stock had a trading volume of 1,419,635 shares. The firm has a 50-day moving average of $144.97 and a 200 day moving average of $136.73. The company has a market capitalization of $48.86 billion, a price-to-earnings ratio of 22.89 and a beta of 1.12. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 42.07%.
A number of equities analysts have weighed in on the company. BidaskClub lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $170.00 target price (up previously from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $152.67.
In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the transaction, the insider now owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now directly owns 23,839 shares in the company, valued at approximately $3,455,701.44. The disclosure for this sale can be found here. Insiders have sold 201,961 shares of company stock worth $28,311,650 in the last three months. 0.90% of the stock is currently owned by corporate insiders.
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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