Illinois Tool Works Inc. (ITW) Position Boosted by BB&T Securities LLC

BB&T Securities LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,815 shares of the industrial products company’s stock after buying an additional 1,696 shares during the period. BB&T Securities LLC’s holdings in Illinois Tool Works were worth $21,038,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FCM Investments TX acquired a new position in Illinois Tool Works during the first quarter valued at about $106,000. MCF Advisors LLC boosted its position in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares in the last quarter. Hudock Capital Group LLC boosted its position in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares in the last quarter. Finally, Baystate Wealth Management LLC boosted its position in shares of Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock valued at $182,000 after buying an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE ITW) traded down 0.38% during mid-day trading on Friday, reaching $135.67. The company’s stock had a trading volume of 1,123,747 shares. The company has a 50 day moving average of $142.70 and a 200-day moving average of $137.72. The stock has a market cap of $46.69 billion, a PE ratio of 21.95 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

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Several research analysts recently weighed in on the company. J P Morgan Chase & Co cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $132.00 target price for the company. in a research note on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday. BidaskClub downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a report on Tuesday, August 1st. Finally, Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $151.08.

In other news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares in the company, valued at approximately $3,455,701.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the completion of the transaction, the insider now directly owns 55,878 shares in the company, valued at approximately $8,046,432. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,664 shares of company stock valued at $14,329,625. Company insiders own 0.90% of the company’s stock.

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.

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

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