1832 Asset Management L.P. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 23.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 552,150 shares of the industrial products company’s stock after selling 170,057 shares during the period. 1832 Asset Management L.P. owned 0.18% of Illinois Tool Works worth $138,126,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth $25,000. Northwest Capital Management Inc purchased a new stake in shares of Illinois Tool Works in the second quarter valued at about $28,000. Miller Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the second quarter worth about $31,000. Quarry LP raised its holdings in Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Finally, Steward Financial Group LLC purchased a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $39,000. 79.56% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Barclays cut their price target on shares of Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Citigroup boosted their price objective on shares of Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley increased their target price on shares of Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $238.25.
Illinois Tool Works Price Performance
NYSE:ITW traded up $0.60 during trading hours on Thursday, reaching $241.43. 245,291 shares of the company traded hands, compared to its average volume of 1,072,863. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.58 and a quick ratio of 1.13. The firm’s 50-day moving average is $232.41 and its 200-day moving average is $238.43. The stock has a market cap of $72.64 billion, a P/E ratio of 23.46, a P/E/G ratio of 4.63 and a beta of 1.14. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $264.19.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.10 billion. Illinois Tool Works had a return on equity of 95.68% and a net margin of 19.55%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. Equities research analysts expect that Illinois Tool Works Inc. will post 9.68 earnings per share for the current fiscal year.
Illinois Tool Works Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, December 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 54.32%.
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.