Illinois Tool Works Inc. (ITW) Position Maintained by Glenmede Trust Co. NA
Glenmede Trust Co. NA maintained its stake in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 846,959 shares of the industrial products company’s stock at the end of the first quarter. Glenmede Trust Co. NA owned 0.25% of Illinois Tool Works worth $103,717,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. FCM Investments TX purchased a new stake in Illinois Tool Works during the first quarter worth approximately $106,000. MCF Advisors LLC increased its stake 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 worth $109,000 after buying an additional 200 shares during the period. TrimTabs Asset Management LLC increased its stake in 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 increased its stake in 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, Baystate Wealth Management LLC increased its stake in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (ITW) traded up 0.13% during mid-day trading on Monday, hitting $135.84. The stock had a trading volume of 226,558 shares. The firm has a market cap of $46.75 billion, a P/E ratio of 21.98 and a beta of 1.11. The stock has a 50-day moving average price of $142.53 and a 200 day moving average price of $137.77. 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 posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. The business 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 company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued 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 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 42.07%.
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A number of equities research analysts recently commented on the company. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a 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 target price for the company in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $155.00 target price on shares of Illinois Tool Works in a report on Tuesday, May 16th. Finally, J P Morgan Chase & Co downgraded Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $141.00 to $132.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.08.
In other 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 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 of the company’s stock, valued at approximately $8,046,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the sale, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders sold a total of 100,664 shares of company stock valued at $14,329,625 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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