Credit Agricole S A Cuts Stake in Illinois Tool Works Inc. (ITW)

Credit Agricole S A lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 655,949 shares of the industrial products company’s stock after selling 24,315 shares during the period. Credit Agricole S A owned about 0.19% of Illinois Tool Works worth $86,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hudock Capital Group LLC raised 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 worth $139,000 after buying an additional 6 shares during the last quarter. Trust Co. of Virginia VA raised its position in Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after buying an additional 15 shares during the last quarter. Marietta Wealth Management LLC raised its position in Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock worth $452,000 after buying an additional 26 shares during the last quarter. Buckingham Asset Management LLC raised its position in Illinois Tool Works by 1.6% in the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock worth $238,000 after buying an additional 29 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its position in Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock worth $184,000 after buying an additional 32 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 138.36 on Friday. The company has a market cap of $47.62 billion, a P/E ratio of 22.39 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 price of $143.35 and a 200-day moving average price of $137.43.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued 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 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 42.07%.

TRADEMARK VIOLATION NOTICE: This story was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/12/credit-agricole-s-a-decreases-position-in-illinois-tool-works-inc-itw-updated-updated.html.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Citigroup Inc. lifted their price target on Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Barclays PLC lifted their price target on Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $145.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $152.67.

In other news, CFO Michael M. Larsen sold 52,447 shares of Illinois Tool Works stock in a transaction 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 transaction, the chief financial officer now directly owns 67,383 shares in the company, valued at approximately $9,475,397.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction on Friday, June 9th. The shares were sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the transaction, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Insiders sold a total of 100,664 shares of company stock worth $14,329,625 over the last quarter. Company 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.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

What are top analysts saying about Illinois Tool Works Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Illinois Tool Works Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit