Westhampton Capital LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,600 shares of the industrial products company’s stock, valued at approximately $392,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Hexavest Inc. bought a new position in Illinois Tool Works in the 2nd quarter valued at $26,000. Asset Dedication LLC raised its position in Illinois Tool Works by 105.3% in the 2nd quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Weaver Consulting Group bought a new stake in shares of Illinois Tool Works during the first quarter worth $32,000. Mark Sheptoff Financial Planning LLC raised its position in shares of Illinois Tool Works by 512.8% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Finally, Lenox Wealth Management Inc. raised its position in shares of Illinois Tool Works by 54.1% during the first quarter. Lenox Wealth Management Inc. now owns 285 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In other Illinois Tool Works news, EVP Steven L. Martindale sold 48,622 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total value of $7,579,197.36. Following the completion of the transaction, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the completion of the transaction, the insider now directly owns 16,315 shares of the company’s stock, valued at $2,610,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,878 shares of company stock valued at $11,313,386. 0.87% of the stock is owned by insiders.
Shares of Illinois Tool Works stock traded down $4.89 during trading on Friday, reaching $146.92. 812,907 shares of the company were exchanged, compared to its average volume of 1,436,972. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $160.78. The business has a 50-day moving average price of $151.12 and a 200-day moving average price of $148.57. The firm has a market capitalization of $49.22 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 2.55 and a beta of 1.23.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 7.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.91%. Illinois Tool Works’s payout ratio is 52.63%.
A number of equities research analysts have recently weighed in on ITW shares. Stifel Nicolaus boosted their target price on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley set a $134.00 target price on Illinois Tool Works and gave the stock a “sell” rating in a research report on Friday, April 26th. Northcoast Research downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a research report on Wednesday, June 26th. UBS Group boosted their target price on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Argus boosted their target price on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $142.33.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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