Stephens Inc. AR Acquires 1,129 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Stephens Inc. AR boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,122 shares of the industrial products company’s stock after acquiring an additional 1,129 shares during the quarter. Stephens Inc. AR’s holdings in Illinois Tool Works were worth $9,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexavest Inc. bought a new stake in Illinois Tool Works during the 2nd quarter worth approximately $26,000. Asset Dedication LLC boosted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Weaver Consulting Group bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at $32,000. Mark Sheptoff Financial Planning LLC boosted its stake in shares of 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 purchasing an additional 200 shares during the last quarter. Finally, Lenox Wealth Management Inc. boosted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

ITW traded up $0.44 during trading on Thursday, hitting $147.03. 378,373 shares of the company’s stock were exchanged, compared to its average volume of 1,512,823. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The firm’s 50 day moving average price is $151.00. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $160.78. The company has a market cap of $47.60 billion, a PE ratio of 19.35, a P/E/G ratio of 2.48 and a beta of 1.23.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works Inc. will post 7.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.07 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. This represents a $4.28 annualized dividend and a yield of 2.91%. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the transaction, the vice president now owns 21,603 shares in the company, valued at $3,244,122.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven L. Martindale sold 48,622 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 84,546 shares in the company, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,878 shares of company stock worth $11,313,386. Corporate insiders own 0.87% of the company’s stock.

A number of research firms have recently commented on ITW. Citigroup set a $161.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $120.00 to $144.00 in a research note on Friday, April 26th. Credit Suisse Group upped their price objective on shares of Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Argus upped their price objective on shares of Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $142.33.

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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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