Jackson Wealth Management LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,846 shares of the industrial products company’s stock, valued at approximately $1,517,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Vista LLC grew its holdings in shares of 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 period. TrimTabs Asset Management LLC grew its holdings in shares of Illinois Tool Works by 88.3% during the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 416 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth about $132,000. Washington Trust Bank grew its holdings in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 11 shares during the period. Finally, Dubuque Bank & Trust Co. grew its holdings in shares of Illinois Tool Works by 56.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,022 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 367 shares during the period. 74.79% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.truebluetribune.com/2017/10/13/10846-shares-in-illinois-tool-works-inc-itw-purchased-by-jackson-wealth-management-llc.html.
Illinois Tool Works Inc. (ITW) opened at 153.23 on Friday. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $153.35. The firm has a 50-day moving average price of $144.67 and a 200-day moving average price of $141.19. The stock has a market cap of $52.73 billion, a PE ratio of 24.79 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Analysts forecast that Illinois Tool Works Inc. will post $6.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were issued a $0.78 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.
ITW has been the subject of a number of research reports. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Royal Bank Of Canada boosted their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $147.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $152.71.
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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.