First Financial Corp IN lessened its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 20.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 415 shares of the industrial products company’s stock after selling 108 shares during the period. First Financial Corp IN’s holdings in Illinois Tool Works were worth $76,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Invesco Ltd. lifted its position in shares of Illinois Tool Works by 3.4% in the 4th quarter. Invesco Ltd. now owns 1,228,142 shares of the industrial products company’s stock worth $303,106,000 after purchasing an additional 40,797 shares during the period. Clark Capital Management Group Inc. purchased a new position in Illinois Tool Works during the 4th quarter valued at about $411,000. Mutual Advisors LLC lifted its position in Illinois Tool Works by 5.0% during the 4th quarter. Mutual Advisors LLC now owns 2,894 shares of the industrial products company’s stock valued at $714,000 after acquiring an additional 139 shares during the period. GSA Capital Partners LLP purchased a new position in Illinois Tool Works during the 4th quarter valued at about $315,000. Finally, Quantitative Investment Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $547,000. 79.68% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Stock Performance
NYSE ITW traded down $1.97 during trading hours on Friday, hitting $186.92. 31,172 shares of the company’s stock traded hands, compared to its average volume of 1,160,077. The business’s fifty day moving average price is $201.49 and its two-hundred day moving average price is $200.51. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $57.87 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.66 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $249.81.
Illinois Tool Works Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $5.24 annualized dividend and a yield of 2.80%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.22. Illinois Tool Works’s payout ratio is currently 57.89%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Bank of America reissued a “neutral” rating and set a $220.00 price target on shares of Illinois Tool Works in a research report on Wednesday, August 24th. Barclays reduced their price objective on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating for the company in a research note on Friday, July 8th. Credit Suisse Group raised their price objective on shares of Illinois Tool Works from $225.00 to $229.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Citigroup lifted their price target on shares of Illinois Tool Works from $191.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Finally, Jefferies Financial Group reduced their price target on shares of Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $202.00.
Illinois Tool Works Profile
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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