Illinois Tool Works Inc. (ITW) Position Reduced by Fic Capital Inc.
Fic Capital Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,270 shares of the industrial products company’s stock after selling 50 shares during the period. Fic Capital Inc.’s holdings in Illinois Tool Works were worth $301,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Bremer Trust National Association boosted its position in Illinois Tool Works by 1.7% in the first quarter. Bremer Trust National Association now owns 23,697 shares of the industrial products company’s stock worth $3,139,000 after buying an additional 402 shares during the last quarter. Elkhorn Investments LLC purchased a new position in Illinois Tool Works during the first quarter worth $1,284,000. Cutter & CO Brokerage Inc. boosted its position in Illinois Tool Works by 10.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock worth $1,237,000 after buying an additional 874 shares during the last quarter. Beacon Trust Co. boosted its position in Illinois Tool Works by 0.5% in the first quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock worth $10,111,000 after buying an additional 360 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Illinois Tool Works during the first quarter worth $6,750,000. 74.77% of the stock is owned by institutional investors.
Illinois Tool Works Inc. (NYSE ITW) traded down 0.456% during trading on Wednesday, reaching $140.695. 398,682 shares of the company were exchanged. The firm has a market capitalization of $48.50 billion, a PE ratio of 22.766 and a beta of 1.11. The stock has a 50 day moving average price of $144.54 and a 200 day moving average price of $136.84. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.
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A number of research analysts have weighed in on ITW shares. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $160.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $152.67.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 101,297 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the completion of the transaction, the chief executive officer now directly owns 191,142 shares in the company, valued at approximately $26,383,330.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The disclosure for this sale can be found here. Insiders have sold a total of 201,961 shares of company stock valued at $28,311,650 over the last 90 days. 0.90% of the stock is currently 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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