DE Burlo Group Inc. Lowers Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

DE Burlo Group Inc. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,463 shares of the industrial products company’s stock after selling 930 shares during the quarter. DE Burlo Group Inc.’s holdings in Illinois Tool Works were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PEAK6 Investments LLC increased its position in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Illinois Tool Works during the 1st quarter worth $1,147,000. Norden Group LLC boosted its holdings in Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Illinois Tool Works by 78.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after buying an additional 16,216 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Illinois Tool Works by 28.6% during the 1st quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock worth $54,122,000 after acquiring an additional 44,898 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ITW shares. Barclays dropped their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI lowered their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Trading Down 0.1 %

NYSE ITW opened at $258.21 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company’s 50 day moving average price is $246.54 and its 200 day moving average price is $248.08. The firm has a market capitalization of $76.66 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 4.09 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business posted $2.41 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current 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 paid a dividend of $1.50 per share. This is an increase 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 annualized dividend and a yield of 2.32%. Illinois Tool Works’s payout ratio is 55.23%.

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.