Illinois Tool Works Inc. (ITW) Shares Bought by Dynamic Capital Management Ltd
Dynamic Capital Management Ltd increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 816.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,073 shares of the industrial products company’s stock after buying an additional 36,590 shares during the period. Illinois Tool Works accounts for about 0.9% of Dynamic Capital Management Ltd’s holdings, making the stock its 23rd largest position. Dynamic Capital Management Ltd’s holdings in Illinois Tool Works were worth $5,441,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares during the last quarter. RMB Capital Management LLC boosted its stake in Illinois Tool Works by 2.7% in the first quarter. RMB Capital Management LLC now owns 58,016 shares of the industrial products company’s stock worth $7,685,000 after buying an additional 1,532 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Illinois Tool Works by 145.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 75,505 shares of the industrial products company’s stock worth $10,013,000 after buying an additional 44,760 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Illinois Tool Works by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 819,891 shares of the industrial products company’s stock worth $108,610,000 after buying an additional 32,865 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Illinois Tool Works by 25.9% in the first quarter. Parallel Advisors LLC now owns 2,712 shares of the industrial products company’s stock worth $374,000 after buying an additional 558 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 0.82% during trading on Thursday, hitting $139.57. 94,791 shares of the stock were exchanged. The stock’s 50 day moving average price is $143.83 and its 200 day moving average price is $137.32. The stock has a market cap of $48.03 billion, a PE ratio of 22.58 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is currently 42.07%.
A number of analysts have weighed in on the stock. BidaskClub cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a report on Tuesday, August 1st. Credit Suisse Group set a $141.00 price objective on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. Northcoast Research reissued a “neutral” rating on shares of Illinois Tool Works in a report on Tuesday, July 25th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $136.00 price objective (down previously from $140.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $152.67.
In other Illinois Tool Works news, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the sale, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the sale, the insider now directly owns 55,878 shares in the company, valued at $8,046,432. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,961 shares of company stock worth $28,311,650. Corporate 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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