Global X Japan Co. Ltd. Has $401,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Global X Japan Co. Ltd. raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,693 shares of the industrial products company’s stock after buying an additional 94 shares during the period. Global X Japan Co. Ltd.’s holdings in Illinois Tool Works were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth $26,000. Security National Bank bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $30,000. Christopher J. Hasenberg Inc bought a new position in Illinois Tool Works in the 1st quarter valued at approximately $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $34,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.3 %

Shares of ITW stock opened at $246.77 on Tuesday. The company has a market cap of $73.27 billion, a P/E ratio of 24.34, a PEG ratio of 3.88 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The stock has a 50 day simple moving average of $243.46 and a two-hundred day simple moving average of $248.66. 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 (NYSE:ITW) last released its quarterly earnings data 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. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.41 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 55.23%.

Insider Activity

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

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company raised their target price 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. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays decreased their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.22.

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.