Illinois Tool Works Inc. (ITW) Position Maintained by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC continued to hold its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The institutional investor owned 18,780 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Illinois Tool Works were worth $1,956,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ITW. Bank of Montreal Can acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $106,575,000. Renaissance Technologies LLC purchased a new position in Illinois Tool Works during the first quarter worth approximately $55,010,000. Credit Agricole S A boosted its position in Illinois Tool Works by 181.0% in the first quarter. Credit Agricole S A now owns 546,890 shares of the company’s stock worth $56,024,000 after buying an additional 352,273 shares in the last quarter. Geode Capital Management LLC boosted its position in Illinois Tool Works by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,680,001 shares of the company’s stock worth $273,988,000 after buying an additional 136,475 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Illinois Tool Works by 148.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 223,145 shares of the company’s stock worth $23,243,000 after buying an additional 133,297 shares in the last quarter. Institutional investors own 74.90% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.60% during mid-day trading on Friday, hitting $116.54. 447,317 shares of the stock were exchanged. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $123.50. The company’s 50-day moving average price is $118.39 and its 200 day moving average price is $110.62. The firm has a market capitalization of $41.37 billion, a price-to-earnings ratio of 21.70 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post $5.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Friday, September 30th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.24%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 48.42%.
A number of research analysts recently commented on the company. Jefferies Group increased their target price on Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Deutsche Bank AG reissued a “buy” rating and issued a $102.00 target price on shares of Illinois Tool Works in a research note on Thursday, August 25th. RBC Capital Markets reissued a “sector perform” rating and issued a $104.00 target price (up previously from $101.00) on shares of Illinois Tool Works in a research note on Sunday, July 24th. Finally, Credit Suisse Group AG set a $114.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $110.20.
In other Illinois Tool Works news, insider John R. Hartnett sold 7,500 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $114.08, for a total value of $855,600.00. Following the transaction, the insider now directly owns 16,399 shares in the company, valued at approximately $1,870,797.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $113.99, for a total transaction of $1,595,860.00. The disclosure for this sale can be found here. Corporate 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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