Illinois Tool Works Inc. (ITW) Shares Sold by Chicago Equity Partners LLC
Chicago Equity Partners LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 38.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,635 shares of the industrial products company’s stock after selling 50,480 shares during the quarter. Chicago Equity Partners LLC’s holdings in Illinois Tool Works were worth $11,551,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ITW. Private Vista LLC boosted its holdings in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares during the last quarter. TrimTabs Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 416 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Illinois Tool Works during the 1st quarter valued at $132,000. Washington Trust Bank lifted its holdings in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 11 shares in the last quarter. Finally, Dubuque Bank & Trust Co. lifted its holdings in shares of Illinois Tool Works by 56.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,022 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 367 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.
In related news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 150.01 on Thursday. The company’s 50-day moving average is $142.12 and its 200 day moving average is $140.46. The stock has a market cap of $51.63 billion, a P/E ratio of 24.27 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.87.
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 Thomson Reuters’ consensus estimate 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 15.50% and a return on equity of 46.57%. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors 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 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is currently 50.49%.
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ITW has been the topic of several recent research reports. BMO Capital Markets restated a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a report on Thursday, July 20th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Citigroup Inc. restated a “buy” rating and set a $162.00 target price on shares of Illinois Tool Works in a report on Tuesday, September 26th. 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. The company has an average rating of “Hold” and an average target price of $151.50.
Illinois Tool Works 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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