State of Tennessee Treasury Department grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 53.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 106,641 shares of the industrial products company’s stock after buying an additional 36,961 shares during the quarter. State of Tennessee Treasury Department’s holdings in Illinois Tool Works were worth $15,156,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Greenleaf Trust raised its holdings in Illinois Tool Works by 1.1% in the 4th quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock valued at $883,000 after acquiring an additional 54 shares in the last quarter. Lynch & Associates IN lifted its stake in shares of Illinois Tool Works by 0.4% in the 1st quarter. Lynch & Associates IN now owns 15,548 shares of the industrial products company’s stock valued at $2,210,000 after purchasing an additional 65 shares during the period. Center for Financial Planning Inc. lifted its stake in shares of Illinois Tool Works by 1.3% in the 1st quarter. Center for Financial Planning Inc. now owns 5,093 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 65 shares during the period. AIA Investment Management Private Ltd lifted its stake in shares of Illinois Tool Works by 6.9% in the 1st quarter. AIA Investment Management Private Ltd now owns 1,032 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 67 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Illinois Tool Works by 6.7% in the 4th quarter. Assetmark Inc. now owns 1,131 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 71 shares during the period. 78.93% of the stock is owned by institutional investors.

Several brokerages recently commented on ITW. Robert W. Baird raised their price objective on Illinois Tool Works from $138.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Deutsche Bank upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and lifted their price target for the stock from $124.00 to $148.00 in a report on Tuesday, May 5th. Citigroup lifted their price target on Illinois Tool Works from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $187.00 price objective for the company in a research report on Thursday, May 28th. Finally, Wells Fargo & Co cut their price objective on shares of Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $159.00.

In related news, CEO Ernest Scott Santi bought 6,300 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $158.42 per share, with a total value of $998,046.00. Following the completion of the purchase, the chief executive officer now owns 141,994 shares in the company, valued at approximately $22,494,689.48. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard H. Lenny bought 1,575 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $159.19 per share, for a total transaction of $250,724.25. The disclosure for this purchase can be found here. Company insiders own 0.79% of the company’s stock.

NYSE:ITW traded down $0.57 during mid-day trading on Friday, reaching $170.39. The stock had a trading volume of 9,777 shares, compared to its average volume of 1,451,314. The stock has a 50-day simple moving average of $167.53 and a two-hundred day simple moving average of $168.21. The stock has a market capitalization of $54.01 billion, a PE ratio of 22.17, a P/E/G ratio of 4.32 and a beta of 1.16. The company has a debt-to-equity ratio of 3.37, a current ratio of 2.71 and a quick ratio of 2.13. Illinois Tool Works Inc. has a 12 month low of $115.94 and a 12 month high of $190.85.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, May 5th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.81 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 5.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.07 dividend. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.51%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Illinois Tool Works Company Profile

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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