Murphy Capital Management Inc. Sells 360 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Murphy Capital Management Inc. lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,215 shares of the industrial products company’s stock after selling 360 shares during the period. Murphy Capital Management Inc.’s holdings in Illinois Tool Works were worth $334,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in shares of Illinois Tool Works by 237.0% during the 2nd quarter. AE Wealth Management LLC now owns 7,155 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 5,032 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Illinois Tool Works by 7.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,312 shares of the industrial products company’s stock valued at $348,000 after purchasing an additional 165 shares during the last quarter. Wealthquest Corp bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $311,000. Pioneer Trust Bank N A OR grew its holdings in shares of Illinois Tool Works by 0.9% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 34,093 shares of the industrial products company’s stock valued at $5,141,000 after purchasing an additional 310 shares during the last quarter. Finally, Davy Asset Management Ltd bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $1,146,000. 77.55% of the stock is currently owned by institutional investors.

In other news, VP Randall J. Scheuneman sold 14,931 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 21,603 shares of the company’s stock, valued at approximately $3,244,122.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the completion of the sale, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,878 shares of company stock valued at $11,313,386. Corporate insiders own 0.87% of the company’s stock.

Illinois Tool Works stock traded up $0.26 during trading hours on Friday, reaching $151.67. The stock had a trading volume of 1,761,267 shares, compared to its average volume of 1,348,330. The stock has a market cap of $49.41 billion, a PE ratio of 19.96, a PEG ratio of 2.59 and a beta of 1.23. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $160.78. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The company’s fifty day simple moving average is $151.19.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the company posted $1.97 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 7.74 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.82%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.63%.

A number of brokerages have issued reports on ITW. Argus raised their price target on shares of Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a report on Friday, April 26th. Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a report on Wednesday, June 26th. UBS Group raised their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $142.33.

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

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