Dividend Assets Capital LLC Has $58.14 Million Position in Illinois Tool Works Inc. (ITW)
Dividend Assets Capital LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,959 shares of the industrial products company’s stock after selling 1,052 shares during the quarter. Illinois Tool Works makes up 2.4% of Dividend Assets Capital LLC’s holdings, making the stock its 11th biggest position. Dividend Assets Capital LLC owned about 0.11% of Illinois Tool Works worth $58,142,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Omnia Family Wealth LLC raised its stake in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Private Vista LLC raised its stake in Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 277,508 shares during the period. Harding Loevner LP purchased a new position in Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP raised its stake in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $147.00 price target (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. BMO Capital Markets boosted their price target on shares of Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research note on Tuesday, August 1st. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Finally, Jefferies Group LLC reaffirmed 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Illinois Tool Works has an average rating of “Hold” and an average target price of $157.27.
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Illinois Tool Works Inc. (NYSE ITW) opened at $159.46 on Wednesday. The company has a market cap of $54,421.85, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works Inc. has a 12-month low of $120.06 and a 12-month high of $159.96.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 EPS. sell-side analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.96%. Illinois Tool Works’s dividend payout ratio is presently 47.78%.
In related news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now directly owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock valued at $19,801,832 in the last quarter. Insiders own 0.90% of the company’s stock.
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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