Teachers Retirement System of The State of Kentucky cut its position in shares of Illinois Tool Works Inc.(NYSE:ITW) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC.The fund owned 191,811 shares of the industrial products company’s stock after selling 34,000 shares during the quarter.Teachers Retirement System of The State of Kentucky owned 0.06% of Illinois Tool Works worth $33,538,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company.Elmwood Wealth Management Inc.
acquired a new position in shares of Illinois Tool Works in the first quarter worth $27,000.Rosenberg Matthew Hamilton acquired a new position in shares of Illinois Tool Works in the second quarter worth $27,000.
Watson Rebecca acquired a new position in shares of Illinois Tool Works in the second quarter worth $43,000.
JJJ Advisors Inc.acquired a new position in shares of Illinois Tool Works in the second quarter worth $46,000.
Finally, Tarbox Family Office Inc.raised its holdings in shares of Illinois Tool Works by 32.5% in the second quarter.Tarbox Family Office Inc.now owns 273 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 67 shares during the last quarter.
78.12% of the stock is owned by hedge funds and other institutional investors.Get Illinois Tool Works alerts:
In other news, Vice Chairman Christopher A.
O’herlihy sold 29,702 shares of the company’s stock in a transaction dated Monday, August 10th.The stock was sold at an average price of $194.58, for a total value of $5,779,415.16.Following the completion of the sale, the insider now owns 63,300 shares of the company’s stock, valued at $12,316,914.The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link .Also, CFO Michael M.Larsen sold 66,821 shares of the company’s stock in a transaction dated Monday, August 3rd.The stock was sold at an average price of $187.09, for a total value of $12,501,540.89.Following the completion of the sale, the chief financial officer now directly owns 52,319 shares of the company’s stock, valued at approximately $9,788,361.71.
The disclosure for this sale can be found here .In the last three months, insiders have sold 143,879 shares of company stock valued at $27,240,677.0.79% of the stock is owned by company insiders.
ITW stock traded up $0.42 during trading on Tuesday, reaching $198.64.817,200 shares of the stock traded hands, compared to its average volume of 1,432,375.The business’s 50 day moving average price is $193.56 and its 200-day moving average price is $170.88.Illinois Tool Works Inc.
has a 52-week low of $115.94 and a 52-week high of $202.68.The company has a debt-to-equity ratio of 3.29, a current ratio of 2.75 and a quick ratio of 2.18.The firm has a market capitalization of $62.67 billion, a PE ratio of 29.11, a P/E/G ratio of 6.11 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, July 31st.The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.31.Illinois Tool Works had a return on equity of 81.80% and a net margin of 17.16%.
The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.34 billion.
During the same quarter in the previous year, the business earned $1.91 earnings per share.The firm’s quarterly revenue was down 29.0% compared to the same quarter last year.On average, equities research analysts predict that Illinois Tool Works Inc.will post 5.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th.Shareholders of record on Wednesday, September 30th will be given a dividend of $1.14 per share.This represents a $4.56 dividend on an annualized basis and a yield of 2.30%.
The ex-dividend date is Tuesday, September 29th.This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.07.Illinois Tool Works’s payout ratio is 55.23%.
A number of research firms have recently weighed in on ITW.Morgan Stanley boosted their price target on Illinois Tool Works from $156.00 to $162.00 and gave the stock an “underweight” rating in a report on Monday, August 3rd.Wells Fargo & Company boosted their price target on Illinois Tool Works from $180.00 to $205.00 in a report on Monday, August 3rd.Barclays initiated coverage on Illinois Tool Works in a research note on Tuesday, August 25th.
They issued an “equal weight” rating and a $197.00 target price for the company.Bank of America upped their target price on Illinois Tool Works from $130.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, August 3rd.Finally, Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $187.00 target price for the company in a research note on Thursday, May 28th.Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company.The company currently has an average rating of “Hold” and a consensus target price of $167.83.
Illinois Tool Works Company 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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