Signaturefd LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,020 shares of the industrial products company’s stock after acquiring an additional 100 shares during the quarter. Signaturefd LLC’s holdings in Illinois Tool Works were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexavest Inc. acquired a new stake in Illinois Tool Works during the 2nd quarter worth about $26,000. WP Advisors LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth about $28,000. Asset Dedication LLC boosted its position in Illinois Tool Works by 105.3% during the 2nd quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Weaver Consulting Group acquired a new stake in Illinois Tool Works during the 1st quarter worth about $32,000. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Illinois Tool Works by 512.8% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Shares of Illinois Tool Works stock traded up $4.24 during trading on Tuesday, hitting $152.11. 626,483 shares of the stock traded hands, compared to its average volume of 1,500,975. The company has a market capitalization of $48.37 billion, a PE ratio of 20.01, a P/E/G ratio of 2.51 and a beta of 1.23. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $160.78. The business’s fifty day moving average is $151.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.97 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 7.74 earnings per share for the current fiscal 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 issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.81%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is currently 52.63%.

In related news, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total value of $1,492,000.00. Following the transaction, the insider now directly owns 16,315 shares of the company’s stock, valued at approximately $2,610,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Randall J. Scheuneman sold 14,931 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were 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 $3,244,122.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,878 shares of company stock valued at $11,313,386. 0.87% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on ITW shares. UBS Group raised their price objective 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. Argus raised their price objective on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upgraded Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $120.00 to $144.00 in a research report on Friday, April 26th. Credit Suisse Group lifted their price target on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $142.33.

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.

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

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