Illinois Tool Works Inc. (ITW) Shares Bought by LMR Partners LLP
LMR Partners LLP raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 196.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,212 shares of the company’s stock after buying an additional 9,419 shares during the period. LMR Partners LLP’s holdings in Illinois Tool Works were worth $1,480,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Acropolis Investment Management LLC bought a new stake in shares of Illinois Tool Works during the second quarter valued at about $128,000. Washington Trust Bank boosted its stake in shares of Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock valued at $145,000 after buying an additional 25 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Illinois Tool Works during the second quarter valued at about $206,000. Oakworth Capital Inc. boosted its stake in shares of Illinois Tool Works by 6.9% in the second quarter. Oakworth Capital Inc. now owns 1,994 shares of the company’s stock valued at $212,000 after buying an additional 129 shares in the last quarter. Finally, Financial Strategy Network LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at about $253,000. 74.90% of the stock is owned by institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 1.97% during midday trading on Friday, hitting $117.20. 2,175,563 shares of the stock were exchanged. The stock’s 50 day moving average is $118.85 and its 200 day moving average is $110.17. The firm has a market cap of $41.60 billion, a P/E ratio of 21.82 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $79.15 and a 12-month high of $123.50.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. Illinois Tool Works’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $5.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 30th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. Illinois Tool Works’s dividend payout ratio (DPR) is currently 48.42%.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Deutsche Bank AG boosted their price objective on shares of Illinois Tool Works from $119.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 21st. Robert W. Baird cut shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research note on Thursday, June 23rd. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $104.00 price target (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $108.43.
In other news, CEO Ernest Scott Santi sold 74,077 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $114.24, for a total transaction of $8,462,556.48. Following the transaction, the chief executive officer now owns 75,926 shares in the company, valued at approximately $8,673,786.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total transaction of $544,920.00. Following the transaction, the insider now owns 24,777 shares in the company, valued at approximately $2,960,851.50. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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