Everett Harris & Co. CA boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,710 shares of the industrial products company’s stock after acquiring an additional 230 shares during the quarter. Everett Harris & Co. CA’s holdings in Illinois Tool Works were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ITW. Marshall Wace LLP purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $293,000. Gantzert Investment Co. LLC ADV boosted its holdings in Illinois Tool Works by 8.6% in the first quarter. Gantzert Investment Co. LLC ADV now owns 20,095 shares of the industrial products company’s stock valued at $2,856,000 after purchasing an additional 1,585 shares during the period. State of Alaska Department of Revenue grew its stake in Illinois Tool Works by 6.7% during the 1st quarter. State of Alaska Department of Revenue now owns 82,658 shares of the industrial products company’s stock worth $11,747,000 after purchasing an additional 5,215 shares in the last quarter. Gradient Investments LLC increased its holdings in Illinois Tool Works by 24.5% during the 1st quarter. Gradient Investments LLC now owns 523 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 103 shares during the period. Finally, Private Trust Co. NA raised its position in Illinois Tool Works by 7.5% in the 1st quarter. Private Trust Co. NA now owns 4,529 shares of the industrial products company’s stock valued at $643,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

In other news, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest Scott Santi bought 6,300 shares of the stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $158.42 per share, for a total transaction of $998,046.00. Following the acquisition, the chief executive officer now directly owns 141,994 shares of the company’s stock, valued at approximately $22,494,689.48. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by insiders.

Shares of ITW stock opened at $184.99 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 3.37. The stock has a 50 day simple moving average of $175.28 and a 200-day simple moving average of $168.07. The company has a market cap of $58.66 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 4.65 and a beta of 1.16. 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 Friday, July 31st. The industrial products company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.31. Illinois Tool Works had a return on equity of 87.33% and a net margin of 18.06%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. Illinois Tool Works’s quarterly revenue was down 29.0% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 5.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

ITW has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $165.00 to $156.00 in a research note on Monday, July 13th. Gordon Haskett cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price objective for the company. in a research report on Friday, May 8th. Credit Suisse Group cut their price objective on shares of Illinois Tool Works from $151.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Deutsche Bank raised 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 research report on Tuesday, May 5th. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $187.00 target price on the stock in a research report on Thursday, May 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $160.81.

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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