Czech National Bank Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Czech National Bank boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,746 shares of the industrial products company’s stock after acquiring an additional 3,897 shares during the period. Czech National Bank’s holdings in Illinois Tool Works were worth $12,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $26,000. Sequoia Financial Advisors LLC grew its holdings in shares of Illinois Tool Works by 50.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,095 shares of the industrial products company’s stock worth $1,858,000 after buying an additional 2,372 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Illinois Tool Works by 52.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,201 shares of the industrial products company’s stock valued at $838,000 after purchasing an additional 1,100 shares during the period. Cerity Partners LLC grew its holdings in shares of Illinois Tool Works by 270.7% in the fourth quarter. Cerity Partners LLC now owns 248,644 shares of the industrial products company’s stock valued at $65,135,000 after purchasing an additional 181,569 shares during the period. Finally, Sapient Capital LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $1,754,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.9 %

ITW stock traded down $2.20 during trading on Monday, hitting $237.01. 93,341 shares of the company traded hands, compared to its average volume of 1,161,776. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. The company has a 50-day moving average of $240.94 and a 200-day moving average of $250.40. The firm has a market capitalization of $70.72 billion, a PE ratio of 23.59, a P/E/G ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $2.41 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Analysts predict that Illinois Tool Works Inc. will post 10.25 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $1.50 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.53%. Illinois Tool Works’s payout ratio is presently 59.17%.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on ITW shares. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.75.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.