Twin Tree Management LP cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,893 shares of the industrial products company’s stock after selling 4,079 shares during the quarter. Twin Tree Management LP’s holdings in Illinois Tool Works were worth $1,847,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. TrimTabs Asset Management LLC lifted its position in Illinois Tool Works by 88.3% during the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares in the last quarter. Washington Trust Bank increased its stake in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 11 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Illinois Tool Works during the 1st quarter worth about $132,000. Dubuque Bank & Trust Co. increased its stake in shares of Illinois Tool Works by 56.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,022 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 367 shares during the last quarter. Finally, Hudock Capital Group LLC increased its stake in shares of Illinois Tool Works by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 5 shares during the last quarter. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works 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 document filed with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.
Several research firms have recently weighed in on ITW. Morgan Stanley restated an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, September 26th. Finally, J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $141.00 to $132.00 in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $152.71.
Illinois Tool Works Inc. (NYSE ITW) opened at 151.44 on Thursday. The company has a 50-day moving average of $144.19 and a 200-day moving average of $141.10. The firm has a market cap of $52.12 billion, a price-to-earnings ratio of 24.50 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $152.62.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.06%. Illinois Tool Works’s payout ratio is currently 50.49%.
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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