SG Americas Securities LLC Decreases Holdings in Illinois Tool Works Inc. (ITW)

SG Americas Securities LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 64.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,622 shares of the industrial products company’s stock after selling 26,212 shares during the quarter. SG Americas Securities LLC’s holdings in Illinois Tool Works were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITW. Oakmont Partners LLC increased its stake in shares of Illinois Tool Works by 51.1% in the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 5,362 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Illinois Tool Works by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after acquiring an additional 786 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Illinois Tool Works by 22.8% in the 2nd quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 399 shares in the last quarter. Elkhorn Investments LLC bought a new position in shares of Illinois Tool Works in the 1st quarter worth about $1,284,000. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of Illinois Tool Works by 10.3% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock worth $1,237,000 after acquiring an additional 874 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Several research analysts recently issued reports on ITW shares. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research note on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and increased their price target for the stock from $131.00 to $155.00 in a research note on Thursday, June 1st. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $170.00 price target (up from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $150.64.

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Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 147.34 on Friday. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The company has a market capitalization of $50.71 billion, a price-to-earnings ratio of 23.84 and a beta of 1.11. The firm’s 50-day moving average is $139.67 and its 200-day moving average is $139.40.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. Analysts forecast that Illinois Tool Works Inc. will post $6.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a yield of 2.11%. Illinois Tool Works’s payout ratio is currently 42.07%.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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