Sachetta LLC Has $194,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Sachetta LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 780 shares of the industrial products company’s stock after selling 81 shares during the quarter. Sachetta LLC’s holdings in Illinois Tool Works were worth $194,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ITW. Invesco LLC boosted its position in Illinois Tool Works by 12.7% during the second quarter. Invesco LLC now owns 2,614 shares of the industrial products company’s stock valued at $619,000 after purchasing an additional 295 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in shares of Illinois Tool Works by 5.9% in the 2nd quarter. Global X Japan Co. Ltd. now owns 1,693 shares of the industrial products company’s stock valued at $401,000 after buying an additional 94 shares during the last quarter. LGT Fund Management Co Ltd. bought a new position in shares of Illinois Tool Works in the second quarter valued at $948,000. United Services Automobile Association increased its holdings in Illinois Tool Works by 23.9% during the second quarter. United Services Automobile Association now owns 56,343 shares of the industrial products company’s stock worth $13,351,000 after buying an additional 10,867 shares during the last quarter. Finally, Choreo LLC raised its position in Illinois Tool Works by 70.6% during the second quarter. Choreo LLC now owns 18,597 shares of the industrial products company’s stock worth $4,344,000 after acquiring an additional 7,695 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ITW shares. Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective 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. Barclays decreased their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI decreased 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 note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $246.77 on Tuesday. 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 52 week low of $217.50 and a 52 week high of $271.15. The stock has a market capitalization of $73.27 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 3.88 and a beta of 1.10. The stock has a fifty day moving average of $243.46 and a 200-day moving average of $248.66.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business earned $2.41 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.43%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Company 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.