Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Brown Advisory Securities LLC
Brown Advisory Securities LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,578 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Brown Advisory Securities LLC’s holdings in Illinois Tool Works were worth $340,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in ITW. FCM Investments TX purchased a new position in Illinois Tool Works during the first quarter valued at $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 currently owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.65% during trading on Friday, reaching $138.36. The company had a trading volume of 964,291 shares. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 22.39 and a beta of 1.11. The company’s 50 day moving average is $143.35 and its 200-day moving average is $137.43.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company 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 company earned $1.46 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. 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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Several equities analysts have recently weighed in on the company. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Barclays PLC increased their price target on Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $155.00 price target on shares of Illinois Tool Works in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $152.67.
In other news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the sale, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock valued at $14,329,625 over the last 90 days. 0.90% of the stock is owned by corporate 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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