Taylor Cottrill Erickson & Associates Inc. Buys 445 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Taylor Cottrill Erickson & Associates Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,951 shares of the industrial products company’s stock after purchasing an additional 445 shares during the period. Illinois Tool Works makes up approximately 1.3% of Taylor Cottrill Erickson & Associates Inc.’s holdings, making the stock its 21st largest holding. Taylor Cottrill Erickson & Associates Inc.’s holdings in Illinois Tool Works were worth $6,628,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ITW. Hexavest Inc. acquired a new position in shares of Illinois Tool Works in the 2nd quarter worth approximately $26,000. WP Advisors LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $28,000. Asset Dedication LLC boosted its holdings in shares of Illinois Tool Works by 105.3% in 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 in the last quarter. Weaver Consulting Group acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $32,000. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Illinois Tool Works by 512.8% in 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 in the last quarter. Institutional investors own 77.62% of the company’s stock.

NYSE:ITW traded down $0.30 during trading hours on Wednesday, hitting $148.68. 73,868 shares of the stock were exchanged, compared to its average volume of 1,468,706. The company’s 50 day moving average is $151.26. Illinois Tool Works Inc. has a twelve month low of $117.75 and a twelve month high of $160.78. 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 firm has a market capitalization of $47.85 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.54 and a beta of 1.23.

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 (EPS) for the quarter, topping the 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 the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business earned $1.97 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 7.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders 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. The ex-dividend date is Friday, September 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.88%. Illinois Tool Works’s payout ratio is presently 52.63%.

In related news, insider Michael R. Zimmerman sold 9,325 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the completion of the sale, the insider now owns 16,315 shares in the company, valued at approximately $2,610,400. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the completion of the sale, the vice president now owns 21,603 shares of the company’s stock, valued at approximately $3,244,122.51. The disclosure for this sale can be found here. Insiders have sold a total of 72,878 shares of company stock valued at $11,313,386 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Several research analysts have recently commented on ITW shares. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a report on Tuesday, July 9th. Argus upped their price objective on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Northcoast Research downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a report on Wednesday, June 26th. Stifel Nicolaus upped their price objective on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Morgan Stanley set a $134.00 price objective on Illinois Tool Works and gave the stock a “sell” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $142.33.

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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