529 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 529 shares of the industrial products company’s stock, valued at approximately $80,000.

Several other institutional investors have also recently added to or reduced their stakes in ITW. Cornerstone Advisors Inc. grew its stake in shares of Illinois Tool Works by 23.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 752 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 142 shares during the period. Martingale Asset Management L P bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $217,000. First Trust Advisors LP grew its stake in shares of Illinois Tool Works by 144.7% during the 1st quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock valued at $77,613,000 after purchasing an additional 319,752 shares during the period. Crawford Investment Counsel Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $208,000. Finally, Advisor Group Inc. grew its stake in shares of Illinois Tool Works by 1.6% during the 1st quarter. Advisor Group Inc. now owns 38,412 shares of the industrial products company’s stock valued at $5,515,000 after purchasing an additional 599 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.

Shares of ITW stock traded up $2.52 during trading hours on Wednesday, reaching $154.74. 572,613 shares of the company traded hands, compared to its average volume of 1,209,450. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $161.71. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30. The company has a market cap of $50.16 billion, a P/E ratio of 20.36, a P/E/G ratio of 2.75 and a beta of 1.22. The firm has a 50-day moving average price of $151.36 and a 200 day moving average price of $150.28.



Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the firm earned $1.97 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts predict that Illinois Tool Works Inc. will post 7.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be given a dividend of $1.07 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is presently 52.63%.

In related news, EVP Juan Valls sold 64,894 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $160.51, for a total value of $10,416,135.94. Following the transaction, the executive vice president now directly owns 67,047 shares of the company’s stock, valued at approximately $10,761,713.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of the business’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 completion of the transaction, the insider now directly owns 16,315 shares in the company, valued at $2,610,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,458 shares of company stock worth $25,172,163. Insiders own 0.87% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target for the company. in a research note on Tuesday, July 9th. UBS Group boosted their price target on Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Credit Suisse Group boosted their price target on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target for the company. in a research note on Monday. They noted that the move was a valuation call. Finally, Northcoast Research cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a research report on Wednesday, June 26th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $142.44.

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

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