Hudson Valley Investment Advisors Inc. ADV reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,360 shares of the industrial products company’s stock after selling 400 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Illinois Tool Works were worth $507,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC grew its stake in Illinois Tool Works by 15,116.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after buying an additional 656,821 shares during the last quarter. Ellis Investment Partners LLC lifted its holdings in shares of Illinois Tool Works by 14,261.0% during the 1st quarter. Ellis Investment Partners LLC now owns 390,476 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 387,757 shares during the period. First Trust Advisors LP lifted its holdings in shares of Illinois Tool Works by 144.7% during the 1st quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock worth $77,613,000 after acquiring an additional 319,752 shares during the period. Geode Capital Management LLC increased its position in Illinois Tool Works by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after purchasing an additional 227,625 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Illinois Tool Works during the 1st quarter worth approximately $21,156,000. 77.88% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price objective for the company. in a research report on Tuesday, July 9th. UBS Group upped their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $120.00 to $144.00 in a research report on Friday, April 26th. Finally, Morgan Stanley set a $134.00 price objective on shares of Illinois Tool Works and gave the stock a “sell” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $142.33.
NYSE ITW opened at $146.62 on Friday. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $160.78. The company has a market capitalization of $49.13 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.55 and a beta of 1.23. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. The company has a 50-day simple moving average of $150.92 and a 200 day simple moving average of $148.26.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 7.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.92%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is presently 52.63%.
Illinois Tool Works Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.