SevenBridge Financial Group LLC Sells 117 Shares of Illinois Tool Works Inc. (NYSE:ITW)

SevenBridge Financial Group LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,412 shares of the industrial products company’s stock after selling 117 shares during the period. SevenBridge Financial Group LLC’s holdings in Illinois Tool Works were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hexavest Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $26,000. WP Advisors LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $28,000. Weaver Consulting Group bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $32,000. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Illinois Tool Works by 512.8% during 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 during the last quarter. Finally, Lenox Wealth Management Inc. lifted its holdings in shares of Illinois Tool Works by 54.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 285 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 100 shares during the last quarter. 77.55% of the stock is owned by institutional investors.

In other Illinois Tool Works news, VP Randall J. Scheuneman sold 14,931 shares of the business’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 transaction, the vice president now owns 21,603 shares in the company, valued at $3,244,122.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the completion of the transaction, the insider now owns 16,315 shares in the company, valued at approximately $2,610,400. The disclosure for this sale can be found here. Insiders sold 38,579 shares of company stock worth $5,933,485 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

ITW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $137.00 price objective on shares of Continental in a report on Friday, April 26th. Argus boosted their price target on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. UBS Group set a €36.00 ($41.86) price target on shares of Siemens Healthineers and gave the stock a “neutral” rating in a research note on Monday. Citigroup set a $221.00 price target on shares of 3M and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $34.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday. Five investment 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. The stock currently has an average rating of “Hold” and a consensus price target of $142.33.

Illinois Tool Works stock traded up $0.77 during mid-day trading on Wednesday, hitting $156.66. The company’s stock had a trading volume of 399,898 shares, compared to its average volume of 1,258,198. The business has a 50 day moving average of $151.08. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $160.78. The stock has a market cap of $50.70 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the company earned $1.97 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Illinois Tool Works Inc. will post 7.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, June 27th. Illinois Tool Works’s payout ratio is 52.63%.

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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