Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Edmond DE Rothschild Holding S.A.
Edmond DE Rothschild Holding S.A. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.1% during the first quarter, Holdings Channel reports. The fund owned 1,447 shares of the industrial products company’s stock after buying an additional 179 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Illinois Tool Works were worth $192,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of ITW. Pinnacle Bank purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $195,000. Berkshire Asset Management LLC PA raised its stake in shares of Illinois Tool Works by 1.0% in the first quarter. Berkshire Asset Management LLC PA now owns 12,566 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 126 shares during the last quarter. Cribstone Capital Management LLC raised its stake in shares of Illinois Tool Works by 1.4% in the first quarter. Cribstone Capital Management LLC now owns 2,883 shares of the industrial products company’s stock valued at $380,000 after buying an additional 40 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $543,000. Finally, Atria Investments LLC raised its stake in shares of Illinois Tool Works by 12.2% in the first quarter. Atria Investments LLC now owns 12,661 shares of the industrial products company’s stock valued at $1,677,000 after buying an additional 1,372 shares during the last quarter. 74.77% of the stock is owned by institutional investors.
Shares of Illinois Tool Works Inc. (ITW) traded up 0.65% during trading on Friday, hitting $138.36. The stock had a trading volume of 964,291 shares. The firm 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 12-month low of $111.50 and a 12-month high of $150.29. The firm 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 posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 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 firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is a boost 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 42.07%.
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Several analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Wednesday, July 12th. BidaskClub lowered Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $152.67.
In other news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was 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 approximately $3,455,701.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total value 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. Insiders have sold a total of 100,664 shares of company stock worth $14,329,625 over the last 90 days. 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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