Bp Plc Acquires 15,000 Shares of Illinois Tool Works Inc. (ITW)
Bp Plc raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 37.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,000 shares of the industrial products company’s stock after purchasing an additional 15,000 shares during the quarter. Bp Plc’s holdings in Illinois Tool Works were worth $7,879,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after purchasing an additional 18,221,359 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after purchasing an additional 308,538 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock valued at $603,315,000 after purchasing an additional 67,451 shares during the last quarter. FMR LLC boosted its holdings in Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock valued at $456,912,000 after purchasing an additional 23,205 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after purchasing an additional 203,294 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors.
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Several equities research analysts have commented 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 target on the stock in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target 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 upped their price target for the company from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $170.00 target price (up from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $150.64.
Illinois Tool Works Inc. (NYSE:ITW) opened at 145.08 on Friday. The stock has a market capitalization of $49.93 billion, a price-to-earnings ratio of 23.48 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The company has a 50-day moving average of $139.15 and a 200-day moving average of $139.02.
Illinois Tool Works (NYSE:ITW) last released 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. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. 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. Investors of record on Friday, September 29th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.15%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is currently 42.07%.
About Illinois Tool Works
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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