Illinois Tool Works Inc. (ITW) Stake Reduced by Mason Street Advisors LLC
Mason Street Advisors LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,102 shares of the industrial products company’s stock after selling 112 shares during the period. Mason Street Advisors LLC’s holdings in Illinois Tool Works were worth $5,710,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of ITW. FCM Investments TX bought a new position in shares of Illinois Tool Works during the first quarter worth approximately $106,000. MCF Advisors LLC increased 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 last quarter. TrimTabs Asset Management LLC increased 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 last quarter. Hudock Capital Group LLC increased 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 last quarter. Finally, LeJeune Puetz Investment Counsel LLC bought a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $162,000. Hedge funds and other institutional investors own 75.32% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 1.03% on Friday, reaching $142.88. The company had a trading volume of 1,223,323 shares. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The company has a 50-day moving average price of $144.97 and a 200-day moving average price of $136.73. The firm has a market cap of $49.25 billion, a P/E ratio of 23.12 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. On average, analysts expect that Illinois Tool Works Inc. will post $6.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.78 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.
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A number of brokerages recently commented on ITW. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Barclays PLC increased their price target on Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $155.00 price target on shares of Illinois Tool Works in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $152.67.
In other news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works 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 completion of the sale, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernest Scott Santi sold 101,297 shares of Illinois Tool Works stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total value of $13,982,024.91. Following the sale, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at $26,383,330.26. The disclosure for this sale can be found here. Insiders sold a total of 201,961 shares of company stock valued at $28,311,650 over the last three months. Insiders own 0.90% of the company’s stock.
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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