Jaffetilchin Investment Partners LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,426 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Bank raised its stake in shares of Illinois Tool Works by 1.1% during the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 11 shares during the last quarter. Trust Co. of Virginia VA raised its stake in shares of Illinois Tool Works by 0.4% during the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after purchasing an additional 15 shares during the last quarter. Marietta Wealth Management LLC raised its stake in shares of Illinois Tool Works by 0.8% during the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 26 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Illinois Tool Works by 0.4% during the second quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock worth $970,000 after purchasing an additional 26 shares during the last quarter. Finally, Buckingham Asset Management LLC raised its stake in shares of Illinois Tool Works by 1.6% during the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Several research analysts have issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Wednesday, July 12th. J P Morgan Chase & Co cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $141.00 to $132.00 in a research report on Thursday, August 17th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $150.64.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 147.34 on Friday. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 23.84 and a beta of 1.11. The firm has a 50-day moving average price of $139.67 and a 200 day moving average price of $139.40.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is currently 42.07%.

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About Illinois Tool Works

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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