Gofen & Glossberg LLC IL Sells 375 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Gofen & Glossberg LLC IL decreased its position in Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,927 shares of the industrial products company’s stock after selling 375 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Illinois Tool Works were worth $4,361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wendell David Associates Inc. grew its stake in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Wendell David Associates Inc. now owns 22,770 shares of the industrial products company’s stock worth $4,150,000 after acquiring an additional 119 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Illinois Tool Works by 15.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 10,346 shares of the industrial products company’s stock worth $1,886,000 after buying an additional 1,408 shares during the last quarter. Boenning & Scattergood Inc. boosted its holdings in shares of Illinois Tool Works by 9.9% in the 2nd quarter. Boenning & Scattergood Inc. now owns 2,226 shares of the industrial products company’s stock worth $406,000 after buying an additional 201 shares during the last quarter. EFG Asset Management Americas Corp. boosted its holdings in shares of Illinois Tool Works by 9.2% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 5,122 shares of the industrial products company’s stock worth $933,000 after buying an additional 431 shares during the last quarter. Finally, Atticus Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 82.1% in the 2nd quarter. Atticus Wealth Management LLC now owns 244 shares of the industrial products company’s stock worth $44,000 after buying an additional 110 shares during the last quarter. Institutional investors own 79.68% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price target on shares of Illinois Tool Works from $235.00 to $195.00 in a report on Friday, July 15th. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $206.00 to $163.00 in a report on Monday, July 18th. Bank of America reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Illinois Tool Works in a report on Wednesday, August 24th. Barclays dropped their price objective on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a report on Friday, July 8th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.00.

Illinois Tool Works Trading Down 2.0 %

Shares of ITW opened at $188.89 on Friday. The firm’s 50 day simple moving average is $201.49 and its 200 day simple moving average is $200.51. The company has a market capitalization of $58.48 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.48 and a quick ratio of 1.02. Illinois Tool Works Inc. has a 1-year low of $173.52 and a 1-year high of $249.81.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.16. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.98 billion. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. Illinois Tool Works’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. Sell-side analysts forecast that Illinois Tool Works Inc. will post 9.08 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $1.31 per share. The ex-dividend date is Thursday, September 29th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.22. This represents a $5.24 annualized dividend and a dividend yield of 2.77%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.89%.

Illinois Tool Works Company Profile

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Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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