Sentry Investment Management LLC held its stake in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,127 shares of the industrial products company’s stock at the end of the second quarter. Sentry Investment Management LLC’s holdings in Illinois Tool Works were worth $3,456,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Omnia Family Wealth LLC raised its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2 shares during the last quarter. Private Vista LLC raised its holdings in Illinois Tool Works by 13,697.3% during the 2nd 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 last quarter. Harding Loevner LP bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $115,000. WFG Advisors LP raised its holdings in Illinois Tool Works by 24.7% during the 2nd 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 last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.
In related news, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is currently owned by insiders.
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Shares of Illinois Tool Works Inc. (ITW) opened at $157.30 on Monday. Illinois Tool Works Inc. has a 52-week low of $113.23 and a 52-week high of $159.36. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The stock has a market cap of $53,890.82, a price-to-earnings ratio of 24.97, a P/E/G ratio of 2.35 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm posted $1.50 EPS. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. equities analysts forecast that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is currently 47.78%.
Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley raised their price target on shares of Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. BMO Capital Markets raised their price target on shares of Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, October 24th. Credit Suisse Group lowered their price target on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Finally, Argus restated a “buy” rating and set a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $157.27.
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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