Capstone Asset Management Co. Decreases Stake in Illinois Tool Works Inc. (ITW)
Capstone Asset Management Co. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,317 shares of the industrial products company’s stock after selling 7,608 shares during the period. Capstone Asset Management Co.’s holdings in Illinois Tool Works were worth $5,059,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ITW. FCM Investments TX purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $106,000. MCF Advisors LLC raised its stake 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 last quarter. TrimTabs Asset Management LLC raised 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 during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $132,000. Finally, Hudock Capital Group LLC raised 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 during the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.09% on Tuesday, hitting $136.41. 389,261 shares of the stock were exchanged. The stock has a market capitalization of $46.95 billion, a P/E ratio of 22.07 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. The company has a 50 day moving average of $141.50 and a 200 day moving average of $138.11.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.29%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is currently 42.07%.
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A number of research firms recently commented on ITW. Jefferies Group LLC reiterated a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. BMO Capital Markets reiterated a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and raised their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $150.64.
In related news, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The sale was disclosed in a legal 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 business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the completion of the transaction, 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. 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.
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