9,025 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Employers Holdings Inc.

Employers Holdings Inc. purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,025 shares of the industrial products company’s stock, valued at approximately $1,361,000.

A number of other hedge funds have also recently made changes to their positions in ITW. Swiss National Bank lifted its stake in shares of Illinois Tool Works by 7.3% during the 2nd quarter. Swiss National Bank now owns 1,069,706 shares of the industrial products company’s stock worth $161,322,000 after buying an additional 72,400 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 11.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 90,286 shares of the industrial products company’s stock worth $13,616,000 after buying an additional 8,961 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in shares of Illinois Tool Works by 76.9% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 6,830 shares of the industrial products company’s stock worth $1,030,000 after buying an additional 2,970 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $107,000. Finally, Stephens Inc. AR lifted its stake in shares of Illinois Tool Works by 1.8% during the 2nd quarter. Stephens Inc. AR now owns 65,122 shares of the industrial products company’s stock worth $9,821,000 after buying an additional 1,129 shares during the last quarter. Hedge funds and other institutional investors own 77.88% of the company’s stock.

In other Illinois Tool Works news, insider Michael R. Zimmerman sold 9,325 shares of the 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 transaction, the insider now directly owns 16,315 shares in the company, valued at $2,610,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Randall J. Scheuneman sold 14,931 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the transaction, the vice president now owns 21,603 shares in the company, valued at $3,244,122.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,878 shares of company stock worth $11,313,386. 0.87% of the stock is owned by company insiders.

ITW stock traded up $2.38 during midday trading on Friday, reaching $149.00. 5,480 shares of the company’s stock traded hands, compared to its average volume of 1,498,555. The company has a market cap of $47.43 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 2.55 and a beta of 1.23. The firm’s fifty day moving average price is $150.92 and its 200-day moving average price is $148.26. 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 52 week low of $117.75 and a 52 week high of $160.78.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping 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 the consensus estimate of $3.73 billion. During the same period in the previous year, the firm earned $1.97 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post 7.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.87%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s dividend payout ratio is 52.63%.

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Friday, April 26th. Morgan Stanley set a $134.00 price target on shares of Illinois Tool Works and gave the stock a “sell” rating in a research 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 research report on Monday, July 29th. Finally, Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a research report on Wednesday, June 26th. Five research 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $142.33.

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.

See Also: Reverse Stock Split

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

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