ST Germain D J Co. Inc. Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

ST Germain D J Co. Inc. increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,106 shares of the industrial products company’s stock after acquiring an additional 246 shares during the period. ST Germain D J Co. Inc.’s holdings in Illinois Tool Works were worth $1,222,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Illinois Tool Works by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 886,847 shares of the industrial products company’s stock worth $112,348,000 after purchasing an additional 31,558 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after purchasing an additional 227,625 shares in the last quarter. FMR LLC grew its holdings in shares of Illinois Tool Works by 6.4% during the 4th quarter. FMR LLC now owns 768,494 shares of the industrial products company’s stock worth $97,361,000 after purchasing an additional 46,382 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $78,000. Finally, Rockland Trust Co. grew its holdings in shares of Illinois Tool Works by 9.8% during the 1st quarter. Rockland Trust Co. now owns 4,107 shares of the industrial products company’s stock worth $590,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

Shares of Illinois Tool Works stock traded up $0.26 during midday trading on Friday, hitting $151.67. 1,761,267 shares of the company were exchanged, compared to its average volume of 1,433,815. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. The company has a market capitalization of $49.33 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 2.54 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 firm has a 50 day simple moving average of $151.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $1.97 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be given a $1.07 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a yield of 2.82%. Illinois Tool Works’s payout ratio is presently 52.63%.

In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of Illinois Tool Works stock in a transaction on Friday, June 7th. The stock was 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 owns 21,603 shares in the company, valued at approximately $3,244,122.51. The sale 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 Illinois Tool Works stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the completion of the transaction, the executive vice president now owns 84,546 shares of the company’s stock, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,878 shares of company stock valued at $11,313,386. Corporate insiders own 0.87% of the company’s stock.

ITW has been the topic of several recent research reports. Credit Suisse Group raised their target price on Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. UBS Group raised their target price 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. Stifel Nicolaus raised their target price on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northcoast Research downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a research report on Wednesday, June 26th. Finally, Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price for the company. in a research report on Tuesday, July 9th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target 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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