Homrich & Berg Has $735,000 Position in Illinois Tool Works Inc. (ITW)
Homrich & Berg lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,130 shares of the industrial products company’s stock after selling 70 shares during the period. Homrich & Berg’s holdings in Illinois Tool Works were worth $735,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakmont Partners LLC boosted its holdings in shares of Illinois Tool Works by 51.1% during the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after buying an additional 5,362 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Illinois Tool Works by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after buying an additional 786 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Illinois Tool Works by 22.8% in the 2nd quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 399 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of Illinois Tool Works by 10.3% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock valued at $1,237,000 after acquiring an additional 874 shares in the last quarter. Finally, Beacon Trust Co. increased its stake in shares of Illinois Tool Works by 0.5% in the 1st quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock valued at $10,111,000 after acquiring an additional 360 shares in the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 149.79 on Wednesday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.87. The company has a market capitalization of $51.55 billion, a price-to-earnings ratio of 24.24 and a beta of 1.12. The firm’s 50-day moving average price is $141.81 and its 200-day moving average price is $140.39.
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 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 return on equity of 46.57% and a net margin of 15.50%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. 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. Stockholders 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 dividend yield of 2.08%. The ex-dividend date is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 50.49%.
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ITW has been the topic of several research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 20th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $151.50.
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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