Supplemental Annuity Collective Trust of NJ maintained its position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, Holdings Channel reports. The institutional investor owned 9,874 shares of the company’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Illinois Tool Works were worth $1,028,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Envestnet Asset Management Inc. increased its position in shares of Illinois Tool Works by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 194,642 shares of the company’s stock valued at $19,939,000 after buying an additional 6,870 shares during the last quarter. Legal & General Group Plc increased its position in shares of Illinois Tool Works by 1.9% in the first quarter. Legal & General Group Plc now owns 1,445,918 shares of the company’s stock valued at $148,120,000 after buying an additional 26,457 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Illinois Tool Works during the first quarter valued at approximately $4,778,000. National Pension Service increased its position in shares of Illinois Tool Works by 4.2% in the first quarter. National Pension Service now owns 193,174 shares of the company’s stock valued at $19,789,000 after buying an additional 7,763 shares during the last quarter. Finally, AMP Capital Investors Ltd increased its position in shares of Illinois Tool Works by 8.4% in the first quarter. AMP Capital Investors Ltd now owns 176,460 shares of the company’s stock valued at $18,110,000 after buying an additional 13,654 shares during the last quarter. 74.89% of the stock is currently owned by institutional investors.
Illinois Tool Works Inc. (NYSE:ITW) traded up 0.46% during trading on Friday, reaching $113.84. 1,264,663 shares of the company’s stock traded hands. The firm has a market cap of $40.24 billion, a price-to-earnings ratio of 20.79 and a beta of 1.11. The company has a 50 day moving average of $116.67 and a 200 day moving average of $111.52. Illinois Tool Works Inc. has a one year low of $79.15 and a one year high of $123.50.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, October 20th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts predict that Illinois Tool Works Inc. will post $5.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.45%.
Several research analysts recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $102.00 target price on shares of Illinois Tool Works in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Jefferies Group boosted their price objective on shares of Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. RBC Capital Markets reissued a “sector perform” rating and set a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. Finally, Credit Suisse Group AG set a $114.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, July 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $110.20.
In other Illinois Tool Works news, Director Jay L. Henderson bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was acquired at an average cost of $111.94 per share, for a total transaction of $447,760.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $447,760. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $119.50, for a total value of $544,920.00. Following the sale, the insider now owns 24,777 shares of the company’s stock, valued at $2,960,851.50. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.