Harbour Capital Advisors LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 13,930.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 498,940 shares of the industrial products company’s stock after buying an additional 495,384 shares during the period. Harbour Capital Advisors LLC owned about 0.14% of Illinois Tool Works worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Illinois Tool Works by 1,661.3% in the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after purchasing an additional 18,221,359 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at about $95,987,000. Janus Capital Management LLC raised its holdings in shares of Illinois Tool Works by 19.5% in the 1st quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after purchasing an additional 482,027 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Illinois Tool Works by 58.5% in the 1st quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock valued at $161,380,000 after purchasing an additional 449,430 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Illinois Tool Works by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after purchasing an additional 308,538 shares in the last quarter. 74.86% of the stock is owned by institutional investors.
Illinois Tool Works Inc. (NYSE ITW) traded up 0.39% during mid-day trading on Friday, reaching $145.64. 1,915,736 shares of the company’s stock traded hands. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The stock’s 50 day moving average is $139.28 and its 200-day moving average is $139.12. The stock has a market capitalization of $50.12 billion, a PE ratio of 23.57 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the company posted $1.46 EPS. Illinois Tool Works’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.45 EPS for the current year.
The business 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 $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.14%. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.
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Several research firms have recently commented on ITW. Morgan Stanley restated an “equal weight” rating and issued a $140.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Wednesday, July 12th. J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Finally, BMO Capital Markets restated a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $150.64.
Illinois Tool Works Company 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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