Illinois Tool Works Inc. (ITW) Shares Bought by Charter Trust Co.
Charter Trust Co. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,787 shares of the industrial products company’s stock after buying an additional 480 shares during the period. Charter Trust Co.’s holdings in Illinois Tool Works were worth $2,405,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ITW. FCM Investments TX purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $106,000. MCF Advisors LLC increased its position in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Illinois Tool Works during the first quarter valued at about $132,000. Finally, Hudock Capital Group LLC increased its position in shares of 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 valued at $139,000 after buying an additional 6 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Illinois Tool Works Inc. (NYSE ITW) traded down 0.09% during trading on Tuesday, hitting $136.41. 389,261 shares of the stock traded hands. The company has a market cap of $46.95 billion, a PE ratio of 22.07 and a beta of 1.11. The firm has a 50 day moving average price of $141.50 and a 200-day moving average price of $138.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.29%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 42.07%.
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Several brokerages recently issued reports on ITW. BidaskClub downgraded Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday. Robert W. Baird set a $145.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, August 24th. J P Morgan Chase & Co downgraded Illinois Tool Works from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $141.00 to $132.00 in a research report on Thursday, August 17th. Stifel Nicolaus restated a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven 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 $150.64.
In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the sale, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the sale, the insider now owns 55,878 shares in the company, valued at $8,046,432. The disclosure for this sale can be found here. Corporate 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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