Illinois Tool Works Inc. (ITW) Stake Maintained by Walter & Keenan Financial Consulting Co. MI ADV
Walter & Keenan Financial Consulting Co. MI ADV held its position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,166 shares of the industrial products company’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Illinois Tool Works were worth $883,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Illinois Tool Works by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,061,955 shares of the industrial products company’s stock valued at $152,126,000 after buying an additional 12,740 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Illinois Tool Works in the second quarter valued at about $573,000. Shine Investment Advisory Services Inc. bought a new position in shares of Illinois Tool Works in the second quarter valued at about $219,000. Global X Management Co. LLC raised its holdings in shares of Illinois Tool Works by 4.6% in the second quarter. Global X Management Co. LLC now owns 3,119 shares of the industrial products company’s stock valued at $447,000 after buying an additional 137 shares during the last quarter. Finally, BP PLC raised its holdings in shares of Illinois Tool Works by 37.5% in the second quarter. BP PLC now owns 55,000 shares of the industrial products company’s stock valued at $7,879,000 after buying an additional 15,000 shares during the last quarter. 74.86% of the stock is owned by institutional investors and hedge funds.
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Illinois Tool Works Inc. (ITW) opened at 145.64 on Friday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The stock’s 50 day moving average price is $139.28 and its 200 day moving average price is $139.12. The firm has a market capitalization of $50.12 billion, a price-to-earnings ratio of 23.57 and a beta of 1.11.
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. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.45 earnings per share 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 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 2.14%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 42.07%.
A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. 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. J P Morgan Chase & Co cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and cut their price target for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $150.64.
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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