Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Coerente Capital Management – Beragampengetahuan

Coerente Capital Management trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 0.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 100,192 shares of the industrial products company’s stock after selling 375 shares during the period. Illinois Tool Works makes up 5.4% of Coerente Capital Management’s investment portfolio, making the stock its 5th biggest position. Coerente Capital Management’s holdings in Illinois Tool Works were worth $25,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Illinois Tool Works by 103,194.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 72,134,735 shares of the industrial products company’s stock worth $18,045,225,000 after acquiring an additional 72,064,901 shares in the last quarter. BlackRock Inc. boosted its position in shares of Illinois Tool Works by 4.7% during the 1st quarter. BlackRock Inc. now owns 22,309,285 shares of the industrial products company’s stock worth $5,431,195,000 after acquiring an additional 997,389 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after acquiring an additional 7,178,474 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Illinois Tool Works by 8.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,005,137 shares of the industrial products company’s stock worth $1,531,936,000 after acquiring an additional 545,904 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock worth $1,363,875,000 after acquiring an additional 607,321 shares in the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on ITW. Stifel Nicolaus upped their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Citigroup boosted their target price on Illinois Tool Works from $256.00 to $258.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Barclays reduced their target price on Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Finally, Morgan Stanley boosted their target price on Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $237.18.

Read Our Latest Report on Illinois Tool Works

Illinois Tool Works Stock Down 0.7 %

ITW opened at $230.31 on Friday. The business has a 50 day moving average price of $242.29 and a two-hundred day moving average price of $238.68. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. The company has a market cap of $69.64 billion, a PE ratio of 22.78, a P/E/G ratio of 4.10 and a beta of 1.15. Illinois Tool Works Inc. has a 52 week low of $180.27 and a 52 week high of $264.19.

Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.39 by $0.02. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. Illinois Tool Works had a return on equity of 94.14% and a net margin of 19.30%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.37 EPS. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 9.74 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is 55.39%.

About Illinois Tool Works

(Free Report)

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.

Further Reading

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