Ativo Capital Management LLC Has $2.46 Million Stake in Illinois Tool Works Inc. (ITW)
Ativo Capital Management LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 32.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,558 shares of the industrial products company’s stock after selling 9,074 shares during the period. Ativo Capital Management LLC’s holdings in Illinois Tool Works were worth $2,458,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. FCM Investments TX purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC boosted its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares during the last quarter. Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares during the last quarter. Finally, Baystate Wealth Management LLC boosted its position in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock valued at $182,000 after buying an additional 263 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (ITW) traded down 0.25% during midday trading on Tuesday, reaching $141.31. 73,639 shares of the company were exchanged. The firm has a 50-day moving average of $144.97 and a 200 day moving average of $136.73. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The firm has a market capitalization of $48.71 billion, a P/E ratio of 22.87 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.20%. Illinois Tool Works’s payout ratio is 42.07%.
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ITW has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and raised their target price for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Credit Suisse Group set a $135.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research note on Wednesday, April 12th. Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Finally, Barclays PLC raised their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $152.67.
In related news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction on Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,961 shares of company stock valued at $28,311,650. 0.90% of the stock is owned by insiders.
Illinois Tool Works Company Profile
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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