1,259 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITWGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,259 shares of the industrial products company’s stock, valued at approximately $264,000.

A number of other hedge funds have also added to or reduced their stakes in ITW. Norges Bank purchased a new position in Illinois Tool Works during the 4th quarter valued at $744,840,000. BlackRock Inc. increased its position in Illinois Tool Works by 6.6% during the 4th quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company’s stock valued at $5,316,074,000 after purchasing an additional 1,340,520 shares during the period. Wellington Management Group LLP increased its position in Illinois Tool Works by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 5,547,647 shares of the industrial products company’s stock valued at $1,161,677,000 after purchasing an additional 1,189,751 shares during the period. Renaissance Technologies LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at $91,466,000. Finally, Charles Schwab Investment Management Inc. increased its position in Illinois Tool Works by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock valued at $1,236,063,000 after purchasing an additional 326,412 shares during the period. 79.68% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

NYSE ITW opened at $194.06 on Monday. The company has a 50-day moving average price of $200.41 and a 200-day moving average price of $200.93. The firm has a market capitalization of $60.09 billion, a P/E ratio of 23.02, a PEG ratio of 2.68 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $249.81. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.81.

Illinois Tool Works (NYSE:ITWGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.15. Illinois Tool Works had a return on equity of 75.41% and a net margin of 17.44%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post 9.08 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 2.70%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Thursday, September 29th. Illinois Tool Works’s dividend payout ratio is presently 57.89%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $243.00 to $185.00 in a research report on Friday, July 8th. Robert W. Baird set a $213.00 target price on shares of Illinois Tool Works in a report on Tuesday, August 2nd. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $225.00 to $229.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Barclays dropped their target price on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a report on Friday, July 8th. Finally, Citigroup boosted their target price on shares of Illinois Tool Works from $191.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $202.00.

About Illinois Tool Works

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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.

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

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