Swiss National Bank Has $163.25 Million Stake in Illinois Tool Works Inc. (ITW)
Swiss National Bank lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,139,606 shares of the industrial products company’s stock after acquiring an additional 20,300 shares during the period. Swiss National Bank owned approximately 0.33% of Illinois Tool Works worth $163,249,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ITW. Oakmont Partners LLC boosted its stake in Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 5,362 shares during the period. Sumitomo Life Insurance Co. boosted its stake in Illinois Tool Works by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 786 shares during the period. Koshinski Asset Management Inc. boosted its stake in Illinois Tool Works by 22.8% during the second quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock valued at $308,000 after buying an additional 399 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in Illinois Tool Works by 10.3% during the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock valued at $1,237,000 after buying an additional 874 shares during the period. Finally, Beacon Trust Co. boosted its stake in Illinois Tool Works by 0.5% during the first quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock valued at $10,111,000 after buying an additional 360 shares during the period. 74.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 151.50 on Friday. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 24.51 and a beta of 1.12. The firm’s 50-day moving average price is $142.45 and its 200 day moving average price is $140.54. 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 released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio is 50.49%.
Several research firms recently issued reports on ITW. Morgan Stanley reissued an “equal weight” rating and set a $147.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday. Citigroup Inc. reissued a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, September 26th. Royal Bank Of Canada reissued a “hold” rating and set a $143.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, September 13th. BidaskClub lowered Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Finally, Robert W. Baird set a $145.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $151.50.
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In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.
Illinois Tool Works Company 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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