Anchor Capital Advisors LLC maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,857 shares of the industrial products company’s stock at the close of the 2nd quarter. Anchor Capital Advisors LLC’s holdings in Illinois Tool Works were worth $2,558,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in ITW. FCM Investments TX acquired a new stake in Illinois Tool Works during the first quarter worth approximately $106,000. MCF Advisors LLC raised its holdings in Illinois Tool Works by 32.0% during the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 200 shares in the last quarter. TrimTabs Asset Management LLC raised its holdings in Illinois Tool Works by 88.3% during the first 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 in the last quarter. FNY Partners Fund LP acquired a new stake in Illinois Tool Works during the first quarter worth approximately $132,000. Finally, Hudock Capital Group LLC raised its holdings in Illinois Tool Works by 0.6% during the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 6 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the stock. BidaskClub cut shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Robert W. Baird set a $145.00 price objective on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Thursday, August 24th. J P Morgan Chase & Co cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $141.00 to $132.00 in a report on Thursday, August 17th. Stifel Nicolaus reissued a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a report on Wednesday, August 16th. Finally, Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $150.64.
Illinois Tool Works Inc. (ITW) opened at 142.85 on Wednesday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The company has a 50-day moving average of $138.94 and a 200-day moving average of $138.87. The stock has a market capitalization of $49.16 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business 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 business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is currently 42.07%.
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.
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