Jarislowsky Fraser Ltd Has $316,000 Position in Illinois Tool Works Inc. (ITW)
Jarislowsky Fraser Ltd reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,392 shares of the industrial products company’s stock after selling 21 shares during the period. Jarislowsky Fraser Ltd’s holdings in Illinois Tool Works were worth $316,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. FCM Investments TX purchased a new position in Illinois Tool Works during the first quarter valued at about $106,000. MCF Advisors LLC increased its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares during the last quarter. TrimTabs Asset Management LLC increased its stake 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 valued at $118,000 after buying an additional 416 shares in the last quarter. Hudock Capital Group LLC increased its stake 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 valued at $139,000 after buying an additional 6 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in shares of Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock valued at $184,000 after buying an additional 32 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.38% during mid-day trading on Friday, reaching $135.67. 1,123,747 shares of the company’s stock were exchanged. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm’s 50-day moving average is $142.53 and its 200 day moving average is $137.77. The stock has a market capitalization of $46.69 billion, a PE ratio of 21.95 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.30%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.
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Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $151.08.
In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the sale, the chief financial officer now owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,664 shares of company stock valued at $14,329,625. Corporate insiders own 0.90% of the company’s stock.
Illinois Tool Works Company Profile
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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