Cookson Peirce & Co. Inc. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 143,439 shares of the industrial products company’s stock after selling 5,526 shares during the period. Illinois Tool Works makes up 2.3% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 10th largest holding. Cookson Peirce & Co. Inc.’s holdings in Illinois Tool Works were worth $20,548,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Baird Financial Group Inc. boosted its position in shares of Illinois Tool Works by 14.4% in the first quarter. Baird Financial Group Inc. now owns 162,069 shares of the industrial products company’s stock worth $21,469,000 after acquiring an additional 20,430 shares during the last quarter. RidgeWorth Capital Management LLC lifted its position in Illinois Tool Works by 46.4% during the first quarter. RidgeWorth Capital Management LLC now owns 43,035 shares of the industrial products company’s stock valued at $5,729,000 after buying an additional 13,646 shares in the last quarter. Independent Advisor Alliance lifted its position in Illinois Tool Works by 70.4% during the first quarter. Independent Advisor Alliance now owns 3,894 shares of the industrial products company’s stock valued at $510,000 after buying an additional 1,609 shares in the last quarter. Beacon Trust Co. raised its stake in shares of 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 purchasing an additional 360 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Illinois Tool Works by 2.3% during the first quarter. Ameritas Investment Partners Inc. now owns 10,610 shares of the industrial products company’s stock valued at $1,404,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 75.03% of the company’s stock.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Morgan Stanley lifted their price target on shares of Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. BMO Capital Markets boosted their target price on shares of Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. Credit Suisse Group reduced their price target on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Finally, Argus reissued a “buy” rating and set a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $157.27.
Shares of Illinois Tool Works Inc. (ITW) opened at $157.61 on Tuesday. Illinois Tool Works Inc. has a 1 year low of $120.06 and a 1 year high of $159.36. The company has a market capitalization of $53,836.01, a PE ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. research analysts forecast that Illinois Tool Works Inc. will post 6.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.98%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.
In related news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the sale, the insider now owns 18,622 shares in the company, valued at approximately $2,886,410. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Juan Valls sold 48,622 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now owns 71,101 shares in the company, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock valued at $19,801,832 over the last ninety 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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