Investment Counsel Inc. Has $3.26 Million Stake in Illinois Tool Works Inc. (ITW)
Investment Counsel Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,727 shares of the industrial products company’s stock after buying an additional 750 shares during the period. Illinois Tool Works accounts for approximately 2.7% of Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest holding. Investment Counsel Inc.’s holdings in Illinois Tool Works were worth $3,256,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. FCM Investments TX acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at $106,000. MCF Advisors LLC grew its stake in shares of Illinois Tool Works by 32.0% during the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 200 shares during the period. TrimTabs Asset Management LLC grew its stake in shares of Illinois Tool Works by 88.3% during the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 416 shares during the period. FNY Partners Fund LP acquired a new stake in shares of Illinois Tool Works during the first quarter worth $132,000. Finally, Hudock Capital Group LLC grew its stake in shares of Illinois Tool Works by 0.6% during the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 6 shares during the period. 74.86% of the stock is owned by institutional investors.
In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares in the company, valued at approximately $3,455,701.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
Illinois Tool Works Inc. (NYSE ITW) opened at 137.72 on Monday. The firm has a market capitalization of $47.40 billion, a PE ratio of 22.28 and a beta of 1.11. The firm has a 50-day moving average price of $140.29 and a 200-day moving average price of $138.44. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The firm also recently declared 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 is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.
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A number of brokerages recently commented on ITW. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus price target of $150.64.
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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