Chicago Partners Investment Group LLC Purchases New Position in Illinois Tool Works Inc. (ITW)
Chicago Partners Investment Group LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,930 shares of the industrial products company’s stock, valued at approximately $270,000.
Other hedge funds have also recently added to or reduced their stakes in the company. FCM Investments TX bought a new stake in Illinois Tool Works during the 1st quarter valued at about $106,000. MCF Advisors LLC lifted its holdings in Illinois Tool Works by 32.0% during the 1st 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 in the last quarter. TrimTabs Asset Management LLC lifted its holdings in Illinois Tool Works by 88.3% during the 1st 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 in the last quarter. FNY Partners Fund LP bought a new stake in Illinois Tool Works during the 1st quarter valued at about $132,000. Finally, Hudock Capital Group LLC lifted its holdings in Illinois Tool Works by 0.6% during the 1st 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 in the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (ITW) opened at 142.85 on Wednesday. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The stock has a 50 day moving average of $138.94 and a 200 day moving average of $138.87.
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, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders 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. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.
A number of brokerages recently weighed in on ITW. BidaskClub lowered shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Robert W. Baird set a $145.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Thursday, August 24th. J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a report on Tuesday, August 1st. Two equities research 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. The company has an average rating of “Hold” and a consensus price target of $150.64.
TRADEMARK VIOLATION WARNING: “Chicago Partners Investment Group LLC Purchases New Position in Illinois Tool Works Inc. (ITW)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/09/13/chicago-partners-investment-group-llc-purchases-new-position-in-illinois-tool-works-inc-itw.html.
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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Stock Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related stocks with our FREE daily email newsletter.