Radnor Capital Management LLC Has $1,031,000 Position in Illinois Tool Works Inc. (ITW)
Radnor Capital Management LLC maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,200 shares of the industrial products company’s stock at the end of the 2nd quarter. Radnor Capital Management LLC’s holdings in Illinois Tool Works were worth $1,031,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Sawtooth Solutions LLC lifted its holdings in Illinois Tool Works by 5.2% during the second quarter. Sawtooth Solutions LLC now owns 2,087 shares of the industrial products company’s stock worth $299,000 after buying an additional 104 shares during the period. Westpac Banking Corp lifted its holdings in Illinois Tool Works by 166.3% during the second quarter. Westpac Banking Corp now owns 62,385 shares of the industrial products company’s stock worth $8,937,000 after buying an additional 38,961 shares during the period. Swiss National Bank lifted its holdings in Illinois Tool Works by 1.8% during the second quarter. Swiss National Bank now owns 1,139,606 shares of the industrial products company’s stock worth $163,249,000 after buying an additional 20,300 shares during the period. Pacad Investment Ltd. lifted its holdings in Illinois Tool Works by 800.0% during the second quarter. Pacad Investment Ltd. now owns 10,800 shares of the industrial products company’s stock worth $1,547,000 after buying an additional 9,600 shares during the period. Finally, Cornerstone Advisory LLP purchased a new stake in Illinois Tool Works during the second quarter worth $324,000. Institutional investors own 74.79% of the company’s stock.
A number of analysts have weighed in on ITW shares. Stifel Nicolaus restated a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Royal Bank Of Canada upped their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Morgan Stanley restated an “equal weight” rating and set a $147.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $151.50.
In other news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.
Illinois Tool Works Inc. (ITW) opened at 151.63 on Friday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $152.62. The firm has a market capitalization of $52.18 billion, a P/E ratio of 24.54 and a beta of 1.12. The company has a 50 day moving average price of $142.89 and a 200 day moving average price of $140.66.
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 analysts’ consensus estimates of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change 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 2.06%. Illinois Tool Works’s payout ratio is currently 50.49%.
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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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