Peregrine Asset Advisers Inc. Acquires Shares of 2,000 Illinois Tool Works Inc. (NYSE:ITW)

Peregrine Asset Advisers Inc. acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the industrial products company’s stock, valued at approximately $302,000.

A number of other large investors have also added to or reduced their stakes in the business. Valeo Financial Advisors LLC grew its position in shares of Illinois Tool Works by 10.5% in the second quarter. Valeo Financial Advisors LLC now owns 788 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 75 shares during the last quarter. ETF Managers Group LLC grew its position in Illinois Tool Works by 8.9% during the first quarter. ETF Managers Group LLC now owns 926 shares of the industrial products company’s stock worth $133,000 after buying an additional 76 shares in the last quarter. Trillium Asset Management LLC grew its position in Illinois Tool Works by 0.7% during the first quarter. Trillium Asset Management LLC now owns 12,099 shares of the industrial products company’s stock worth $1,737,000 after buying an additional 79 shares in the last quarter. Berman Capital Advisors LLC grew its position in Illinois Tool Works by 23.5% during the first quarter. Berman Capital Advisors LLC now owns 431 shares of the industrial products company’s stock worth $61,000 after buying an additional 82 shares in the last quarter. Finally, Grimes & Company Inc. grew its position in Illinois Tool Works by 1.0% during the second quarter. Grimes & Company Inc. now owns 8,003 shares of the industrial products company’s stock worth $1,207,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

In other news, VP Randall J. Scheuneman sold 14,931 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $150.17, for a total value of $2,242,188.27. Following the completion of the transaction, the vice president now directly owns 21,603 shares in the company, valued at approximately $3,244,122.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven L. Martindale sold 48,622 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the completion of the transaction, the executive vice president now owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The disclosure for this sale can be found here. Insiders sold a total of 72,878 shares of company stock valued at $11,313,386 over the last quarter. 0.87% of the stock is owned by corporate insiders.

ITW has been the topic of a number of analyst reports. UBS Group increased their price target on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a report on Tuesday, July 9th. Stifel Nicolaus raised their target price on Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their target price for the company from $120.00 to $144.00 in a report on Friday, April 26th. Finally, Morgan Stanley set a $134.00 target price on Illinois Tool Works and gave the company a “sell” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $142.33.

Shares of ITW stock traded down $5.45 during trading hours on Friday, reaching $146.36. The company’s stock had a trading volume of 1,230,595 shares, compared to its average volume of 1,404,871. The firm’s 50 day simple moving average is $151.06 and its 200-day simple moving average is $148.63. The company has a market capitalization of $49.21 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.55 and a beta of 1.23. 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 quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 7.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

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.

Featured Article: What is a Reverse Stock Split?

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).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.