Moreno Evelyn V lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 57.8% during the second quarter, Holdings Channel.com reports. The firm owned 1,780 shares of the industrial products company’s stock after selling 2,435 shares during the quarter. Moreno Evelyn V’s holdings in Illinois Tool Works were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hexavest Inc. acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth $26,000. Asset Dedication LLC boosted 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 buying an additional 100 shares during the last quarter. Weaver Consulting Group purchased a new position in Illinois Tool Works in the 1st quarter valued at about $32,000. Mark Sheptoff Financial Planning LLC boosted its position in Illinois Tool Works by 512.8% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Finally, Lenox Wealth Management Inc. boosted its position in Illinois Tool Works by 54.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 285 shares of the industrial products company’s stock valued at $41,000 after buying an additional 100 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors.
Shares of ITW stock traded down $0.05 during trading hours on Thursday, hitting $146.54. 461,268 shares of the company were exchanged, compared to its average volume of 1,512,823. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $160.78. The firm has a 50-day moving average price of $151.00. The company has a market cap of $47.60 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be issued a $1.07 dividend. The ex-dividend date is Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.92%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.
In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.17, for a total value of $2,242,188.27. Following the transaction, the vice president now owns 21,603 shares of the company’s stock, valued at $3,244,122.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the completion of the transaction, the executive vice president now directly owns 84,546 shares in the company, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. Insiders sold 72,878 shares of company stock worth $11,313,386 in the last three months. 0.87% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on ITW shares. Morgan Stanley set a $134.00 price objective on shares of Illinois Tool Works and gave the company a “sell” rating in a research report on Friday, April 26th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target on the stock. in a research report on Tuesday, July 9th. UBS Group increased their price target on shares of 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 increased their price target on shares of 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 investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $142.33.
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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