Fulton Bank N.A. Has $210,000 Position in Illinois Tool Works Inc. (ITW)
Fulton Bank N.A. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,466 shares of the industrial products company’s stock after selling 100 shares during the period. Fulton Bank N.A.’s holdings in Illinois Tool Works were worth $210,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in ITW. FCM Investments TX acquired a new stake in Illinois Tool Works during the first quarter valued at about $106,000. MCF Advisors LLC boosted 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 valued at $109,000 after buying an additional 200 shares during the period. TrimTabs Asset Management LLC boosted 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 valued at $118,000 after buying an additional 416 shares during the period. FNY Partners Fund LP acquired a new stake in Illinois Tool Works during the first quarter valued at about $132,000. Finally, Hudock Capital Group LLC boosted 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 valued at $139,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 0.23% on Wednesday, reaching $136.54. The company had a trading volume of 366,572 shares. The company has a 50 day moving average price of $141.50 and a 200 day moving average price of $138.11. The stock has a market capitalization of $46.99 billion, a PE ratio of 22.09 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 16.31% and a return on equity of 50.83%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.28%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.
Several equities research analysts have recently issued reports on ITW shares. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) upgraded Illinois Tool Works from a “sell” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC restated a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $150.64.
In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the transaction, the insider now 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 can be accessed through the SEC website. Also, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company 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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