Sterneck Capital Management LLC continued to hold its position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,650 shares of the industrial products company’s stock at the end of the first quarter. Sterneck Capital Management LLC’s holdings in Illinois Tool Works were worth $219,000 at the end of the most recent quarter.

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 valued at about $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 valued at $109,000 after buying an additional 200 shares during the period. 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 valued at $118,000 after buying an additional 416 shares during the period. 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 valued at $139,000 after buying an additional 6 shares during the period. Finally, Mosaic Family Wealth LLC increased its position 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 during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded down 0.38% during mid-day trading on Friday, hitting $135.67. 1,123,747 shares of the company were exchanged. The firm has a 50 day moving average of $142.53 and a 200 day moving average of $137.77. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The company has a market capitalization of $46.69 billion, a price-to-earnings ratio of 21.95 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The company 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 firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is currently 42.07%.

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Several research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research report on Wednesday. Zacks Investment Research upgraded shares of 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. J P Morgan Chase & Co downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $141.00 to $132.00 in a research report on Thursday. Royal Bank Of Canada upped their price target on shares of Illinois Tool Works from $125.00 to $141.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 25th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $136.00 price target (down previously from $140.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $151.08.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,664 shares of company stock worth $14,329,625. 0.90% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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