Harding Loevner LP bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 800 shares of the industrial products company’s stock, valued at approximately $115,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Illinois Tool Works by 2.3% during the second quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock valued at $3,241,417,000 after acquiring an additional 500,583 shares in the last quarter. BlackRock Inc. grew its stake in Illinois Tool Works by 5.8% during the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock valued at $2,927,540,000 after acquiring an additional 1,118,381 shares in the last quarter. FMR LLC grew its stake in Illinois Tool Works by 13.7% during the second quarter. FMR LLC now owns 3,920,539 shares of the industrial products company’s stock valued at $561,618,000 after acquiring an additional 471,369 shares in the last quarter. Geode Capital Management LLC grew its stake in Illinois Tool Works by 7.1% during the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after acquiring an additional 203,294 shares in the last quarter. Finally, Janus Capital Management LLC grew its stake in Illinois Tool Works by 19.5% during the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after acquiring an additional 482,027 shares in the last quarter. 74.76% of the stock is owned by institutional investors.

Illinois Tool Works Inc. (NYSE ITW) opened at 155.03 on Monday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $155.12. The firm’s 50-day moving average is $147.56 and its 200 day moving average is $142.11. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 25.09 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were issued a dividend of $0.78 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. Illinois Tool Works’s dividend payout ratio is presently 50.49%.

In other news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

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Several equities analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $143.00 target price on shares of Illinois Tool Works in a research note on Friday. Wells Fargo & Company set a $170.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. J P Morgan Chase & Co raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their target price for the company from $132.00 to $140.00 in a research note on Tuesday, October 10th. Citigroup Inc. reaffirmed a “buy” rating and set a $171.00 target price (up from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $153.87.

Illinois Tool Works Profile

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.

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

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