Bank of Nova Scotia decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,200 shares of the industrial products company’s stock after selling 1,232 shares during the quarter. Bank of Nova Scotia’s holdings in Illinois Tool Works were worth $10,056,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Quantbot Technologies LP raised its holdings in Illinois Tool Works by 71.3% during the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock worth $3,600,000 after purchasing an additional 10,457 shares in the last quarter. Ffcm LLC raised its holdings in Illinois Tool Works by 6.4% during the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock worth $1,698,000 after purchasing an additional 714 shares in the last quarter. Oakmont Partners LLC raised its holdings in Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 5,362 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in Illinois Tool Works by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after purchasing an additional 786 shares in the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in Illinois Tool Works by 22.8% during the second quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 399 shares in the last quarter. 74.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on ITW. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada raised their target price on shares of Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Argus restated a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Finally, Credit Suisse Group lowered their target price on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $157.27.

Illinois Tool Works Inc. (ITW) opened at 156.52 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $111.85 and a 52 week high of $159.36. The company has a 50-day moving average of $150.99 and a 200 day moving average of $143.49. The firm has a market cap of $53.87 billion, a P/E ratio of 25.33 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post $6.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

In other news, VP Norman D. Jr. Finch purchased 4,986 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $156.34 per share, with a total value of $779,511.24. Following the purchase, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,506 shares of company stock valued at $19,801,832. Company insiders own 0.90% of the company’s stock.

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Illinois Tool Works Company 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.

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

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