TD Asset Management Inc. Has $31.03 Million Holdings in Illinois Tool Works Inc. (ITW)
TD Asset Management Inc. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 216,590 shares of the industrial products company’s stock after selling 44,638 shares during the quarter. TD Asset Management Inc. owned approximately 0.06% of Illinois Tool Works worth $31,026,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oakmont Partners LLC lifted its holdings in shares of Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 5,362 shares during the period. Elkhorn Investments LLC bought a new position in shares of Illinois Tool Works during the first quarter valued at $1,284,000. Cutter & CO Brokerage Inc. lifted its holdings in shares of Illinois Tool Works by 10.3% during the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock valued at $1,237,000 after acquiring an additional 874 shares during the period. Beacon Trust Co. lifted its holdings in shares of Illinois Tool Works by 0.5% during the first quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock valued at $10,111,000 after acquiring an additional 360 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Illinois Tool Works by 22.8% during the second quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 399 shares during the period. 74.86% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on ITW shares. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the company a “hold” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) raised Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price target for the company from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 price target (up from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Two research 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. The company currently has an average rating of “Hold” and a consensus price target of $150.64.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 145.08 on Friday. The company has a 50-day moving average price of $139.15 and a 200-day moving average price of $139.02. The firm 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 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 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. Equities analysts forecast that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 28th. 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 2.15%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 42.07%.
Illinois Tool Works 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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