Barrett Asset Management LLC maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the industrial products company’s stock at the close of the 2nd quarter. Barrett Asset Management LLC’s holdings in Illinois Tool Works were worth $645,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Oakmont Partners LLC boosted its holdings in Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after buying an additional 5,362 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Illinois Tool Works by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after buying an additional 786 shares in the last quarter. Elkhorn Investments LLC purchased a new stake in Illinois Tool Works during the first quarter worth about $1,284,000. Cutter & CO Brokerage Inc. boosted its holdings in Illinois Tool Works by 10.3% during the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock worth $1,237,000 after buying an additional 874 shares in the last quarter. Finally, Beacon Trust Co. boosted its holdings in Illinois Tool Works by 0.5% during the first quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock worth $10,111,000 after buying an additional 360 shares in the last quarter. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 145.64 on Friday. The stock has a market capitalization of $50.12 billion, a P/E ratio of 23.57 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The company has a 50-day moving average of $139.28 and a 200-day moving average of $139.12.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post $6.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is 42.07%.
A number of analysts recently commented on ITW shares. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price objective on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $150.64.
Illinois Tool Works 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.
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.