Sawtooth Solutions LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 21.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,181 shares of the industrial products company's stock after purchasing an additional 571 shares during the quarter. Sawtooth Solutions LLC's holdings in Illinois Tool Works were worth $580,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Illinois Tool Works in the 4th quarter valued at $315,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in Illinois Tool Works in the 4th quarter valued at $607,000. Wetherby Asset Management Inc. grew its holdings in Illinois Tool Works by 3.2% in the 4th quarter. Wetherby Asset Management Inc. now owns 8,723 shares of the industrial products company's stock valued at $2,153,000 after buying an additional 271 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Illinois Tool Works by 3.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 301,074 shares of the industrial products company's stock valued at $74,305,000 after buying an additional 9,515 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Illinois Tool Works by 42.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 205,077 shares of the industrial products company's stock valued at $50,613,000 after buying an additional 61,040 shares in the last quarter. 79.68% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Robert W. Baird set a $213.00 target price on Illinois Tool Works in a report on Tuesday, August 2nd. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company upped their price target on Illinois Tool Works from $180.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 3rd. Jefferies Financial Group decreased their price target on Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Finally, Credit Suisse Group increased their target price on Illinois Tool Works from $225.00 to $229.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and a consensus target price of $202.00.
Illinois Tool Works Price Performance
ITW stock opened at $183.88 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $56.93 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.53 and a beta of 1.12. The business's 50-day moving average is $201.56 and its two-hundred day moving average is $199.84. Illinois Tool Works Inc. has a 1 year low of $173.52 and a 1 year high of $249.81.
Illinois Tool Works (NYSE:ITW – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.16. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.98 billion. Illinois Tool Works had a return on equity of 75.41% and a net margin of 17.44%. Illinois Tool Works's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 9.08 earnings per share for the current fiscal year.
Illinois Tool Works Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.22. Illinois Tool Works's dividend payout ratio is presently 57.89%.
About Illinois Tool Works
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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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