Dimensional Fund Advisors LP increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 758,892 shares of the company’s stock after buying an additional 8,562 shares during the period. Dimensional Fund Advisors LP owned 0.21% of Illinois Tool Works worth $79,034,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Hudock Capital Group LLC increased its position in Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock valued at $108,000 after buying an additional 5 shares during the period. Dubuque Bank & Trust Co. increased its stake in shares of Illinois Tool Works by 7.7% in the first quarter. Dubuque Bank & Trust Co. now owns 1,148 shares of the company’s stock valued at $118,000 after buying an additional 82 shares during the period. Acropolis Investment Management LLC acquired a new stake in shares of Illinois Tool Works during the second quarter valued at about $128,000. Washington Trust Bank increased its stake in shares of Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock valued at $145,000 after buying an additional 25 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Illinois Tool Works by 4.2% in the second quarter. Quadrant Capital Group LLC now owns 1,505 shares of the company’s stock valued at $151,000 after buying an additional 60 shares during the period. 74.90% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.17% during trading on Monday, reaching $118.01. The company had a trading volume of 376,039 shares. The company’s 50-day moving average is $118.60 and its 200 day moving average is $108.83. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $123.50. The firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of 21.98 and a beta of 1.15.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. Illinois Tool Works’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post $5.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be given a dividend of $0.65 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 dividend on an annualized basis and a yield of 2.21%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. Illinois Tool Works’s dividend payout ratio is currently 40.97%.
ITW has been the topic of several recent analyst reports. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, June 21st. Deutsche Bank AG reissued a “buy” rating and set a $102.00 target price on shares of Illinois Tool Works in a research note on Thursday, August 25th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Illinois Tool Works in a research note on Tuesday, June 7th. Credit Suisse Group AG set a $114.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, July 21st. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $104.00 target price (up previously from $101.00) on shares of Illinois Tool Works in a research note on Sunday, July 24th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $108.43.
In other Illinois Tool Works news, EVP Sundaram Nagarajan sold 4,560 shares of the stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $501,600.00. Following the completion of the transaction, the executive vice president now owns 24,777 shares of the company’s stock, valued at $2,725,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman David C. Parry sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $118.49, for a total value of $4,739,600.00. Following the transaction, the insider now directly owns 40,584 shares of the company’s stock, valued at approximately $4,808,798.16. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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