Segment Wealth Management LLC Has $704,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Segment Wealth Management LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,668 shares of the industrial products company’s stock after selling 226 shares during the quarter. Segment Wealth Management LLC’s holdings in Illinois Tool Works were worth $704,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ITW. Geode Capital Management LLC lifted its position 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 buying an additional 227,625 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Illinois Tool Works by 3.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,287,199 shares of the industrial products company’s stock worth $184,752,000 after buying an additional 47,529 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Illinois Tool Works by 8.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,260,155 shares of the industrial products company’s stock worth $190,044,000 after buying an additional 100,615 shares during the period. Coho Partners Ltd. lifted its position in shares of Illinois Tool Works by 4.0% during the 1st quarter. Coho Partners Ltd. now owns 1,233,253 shares of the industrial products company’s stock worth $177,009,000 after buying an additional 47,382 shares during the period. Finally, Swiss National Bank lifted its position in shares of Illinois Tool Works by 1.6% during the 1st quarter. Swiss National Bank now owns 997,306 shares of the industrial products company’s stock worth $143,143,000 after buying an additional 15,900 shares during the period. Institutional investors own 77.62% of the company’s stock.

Several equities analysts recently commented on ITW shares. 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. Argus raised their target price on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. 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. 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, Citigroup set a $161.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $142.33.

In other news, EVP Steven L. Martindale sold 48,622 shares of Illinois Tool Works stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total value 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 approximately $13,179,030.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Randall J. Scheuneman sold 14,931 shares of Illinois Tool Works stock in a transaction on 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 $3,244,122.51. The disclosure for this sale can be found here. Insiders sold a total of 72,878 shares of company stock valued at $11,313,386 over the last three months. Insiders own 0.87% of the company’s stock.

ITW traded down $0.81 during trading on Friday, hitting $150.04. The company’s stock had a trading volume of 592,840 shares, compared to its average volume of 1,521,833. The company’s 50 day moving average price is $151.30. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $160.78. The company has a market capitalization of $48.80 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.23.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be paid a $1.07 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.

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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