Wealthcare Advisory Partners LLC Has $963,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Wealthcare Advisory Partners LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,388 shares of the industrial products company’s stock after selling 667 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Illinois Tool Works were worth $963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 6.2% during the fourth 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 during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Illinois Tool Works by 3.8% during the first quarter. Parametric Portfolio Associates LLC now owns 1,287,199 shares of the industrial products company’s stock worth $184,752,000 after purchasing an additional 47,529 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Illinois Tool Works by 8.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,260,155 shares of the industrial products company’s stock worth $190,044,000 after purchasing an additional 100,615 shares during the period. Coho Partners Ltd. boosted its holdings in shares of Illinois Tool Works by 4.0% during the first quarter. Coho Partners Ltd. now owns 1,233,253 shares of the industrial products company’s stock worth $177,009,000 after purchasing an additional 47,382 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Illinois Tool Works by 1.6% during the first quarter. Swiss National Bank now owns 997,306 shares of the industrial products company’s stock worth $143,143,000 after purchasing an additional 15,900 shares during the period. Institutional investors own 77.62% of the company’s stock.

In other news, EVP Steven L. Martindale sold 48,622 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, the executive vice president now owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of Illinois Tool Works stock in a transaction that occurred on 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 directly owns 16,315 shares in the company, valued at approximately $2,610,400. The disclosure for this sale can be found here. In the last three months, insiders sold 72,878 shares of company stock worth $11,313,386. Insiders own 0.87% of the company’s stock.

Several analysts recently commented on the stock. 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. 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. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price objective on the stock. in a research report on Tuesday, July 9th. Finally, Morgan Stanley set a $134.00 price objective on shares of Illinois Tool Works and gave the company a “sell” rating in a research 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 assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $142.33.

Shares of NYSE:ITW traded down $0.49 during trading on Friday, reaching $150.36. The stock had a trading volume of 654,935 shares, compared to its average volume of 1,521,833. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $160.78. The stock has a market capitalization of $48.80 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.50 and a beta of 1.23. 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’s fifty day moving average is $151.30.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post 7.74 earnings per share for the current fiscal year.

The company also recently declared 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 is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.85%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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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