United Capital Financial Advisers LLC Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

United Capital Financial Advisers LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,503 shares of the industrial products company’s stock after purchasing an additional 28,785 shares during the period. United Capital Financial Advisers LLC owned approximately 0.06% of Illinois Tool Works worth $27,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Illinois Tool Works by 2.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,401,495 shares of the industrial products company’s stock valued at $362,170,000 after buying an additional 65,298 shares during the last quarter. First Personal Financial Services boosted its stake in shares of Illinois Tool Works by 26.4% during the 2nd quarter. First Personal Financial Services now owns 460 shares of the industrial products company’s stock valued at $69,000 after buying an additional 96 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Illinois Tool Works by 10.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 88,353 shares of the industrial products company’s stock valued at $13,325,000 after buying an additional 8,288 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $481,000. Finally, Signaturefd LLC lifted its stake in Illinois Tool Works by 3.4% during the second quarter. Signaturefd LLC now owns 3,020 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 77.96% of the company’s stock.

ITW has been the topic of several research analyst reports. Northcoast Research cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a research note on Wednesday, June 26th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price objective on the stock. in a research note on Tuesday, July 9th. Credit Suisse Group raised their price objective on Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, UBS Group raised their price objective on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $142.33.

NYSE ITW traded up $0.10 during trading hours on Friday, hitting $159.95. The company had a trading volume of 56,418 shares, compared to its average volume of 1,102,375. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $160.93. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. The business has a fifty day simple moving average of $150.94 and a 200-day simple moving average of $149.54. The firm has a market cap of $50.90 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.79 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the company earned $1.97 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities analysts forecast that Illinois Tool Works Inc. will post 7.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a yield of 2.68%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.

In other news, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the transaction, the insider now directly owns 16,315 shares of the company’s stock, valued at $2,610,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the transaction, the executive vice president now directly owns 84,546 shares in the company, valued at $13,179,030.48. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

Illinois Tool Works Profile

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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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