Illinois Tool Works Inc. (ITW) Shares Sold by Roberts Glore & Co. Inc. IL
Roberts Glore & Co. Inc. IL lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 19,703 shares of the company’s stock after selling 1,146 shares during the period. Illinois Tool Works accounts for 1.6% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 13th largest position. Roberts Glore & Co. Inc. IL’s holdings in Illinois Tool Works were worth $2,052,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Renaissance Technologies LLC bought a new position in shares of Illinois Tool Works during the first quarter valued at $55,010,000. PGGM Investments boosted its stake in Illinois Tool Works by 10.0% in the second quarter. PGGM Investments now owns 293,306 shares of the company’s stock worth $30,551,000 after buying an additional 26,733 shares during the period. British Airways Pensions Investment Management Ltd boosted its stake in Illinois Tool Works by 20.2% in the second quarter. British Airways Pensions Investment Management Ltd now owns 349,270 shares of the company’s stock worth $36,524,000 after buying an additional 58,630 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in Illinois Tool Works by 4.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 8,288 shares of the company’s stock worth $849,000 after buying an additional 317 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in Illinois Tool Works by 1.1% in the second quarter. Confluence Investment Management LLC now owns 294,246 shares of the company’s stock worth $30,649,000 after buying an additional 3,141 shares during the period. Institutional investors own 74.89% of the company’s stock.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.85% during trading on Tuesday, reaching $115.08. The company had a trading volume of 1,790,512 shares. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $123.50. The company has a market capitalization of $40.85 billion, a P/E ratio of 21.43 and a beta of 1.11. The firm’s 50 day moving average is $118.10 and its 200-day moving average is $110.97.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.06. The business earned $3.43 billion during the quarter, compared to the consensus estimate of $3.41 billion. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, equities analysts expect that Illinois Tool Works Inc. will post $5.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 30th were given a $0.65 dividend. 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 2.26%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. Illinois Tool Works’s payout ratio is currently 48.42%.
ITW has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Friday, September 16th. Deutsche Bank AG restated a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. Jefferies Group boosted their price objective on Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Royal Bank Of Canada boosted their price objective on Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 21st. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $110.20.
In related news, insider Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $119.50, for a total value of $544,920.00. Following the transaction, the insider now owns 24,777 shares in the company, valued at $2,960,851.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman David C. Parry sold 40,000 shares of Illinois Tool Works stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $118.49, for a total value of $4,739,600.00. Following the completion of the transaction, the insider now owns 40,584 shares in the company, valued at approximately $4,808,798.16. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
About Illinois Tool Works
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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