Hamel Associates Inc. raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 15.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,165 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the period. Hamel Associates Inc.’s holdings in Illinois Tool Works were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc raised its position in Illinois Tool Works by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock valued at $3,615,123,000 after purchasing an additional 317,172 shares in the last quarter. Northern Trust Corp raised its position in Illinois Tool Works by 2.2% in the 4th quarter. Northern Trust Corp now owns 14,161,839 shares of the industrial products company’s stock valued at $1,794,164,000 after purchasing an additional 309,895 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Illinois Tool Works by 12,441.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 9,962,137 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Illinois Tool Works by 27.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock valued at $1,117,426,000 after purchasing an additional 1,907,471 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Illinois Tool Works by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,849,090 shares of the industrial products company’s stock valued at $825,423,000 after purchasing an additional 274,579 shares in the last quarter. 78.61% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Argus increased their price target on Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Morgan Stanley set a $134.00 price target on Illinois Tool Works and gave the company a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $124.00 price target on shares of Illinois Tool Works in a research report on Tuesday, January 22nd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $142.13.

Shares of NYSE ITW opened at $155.33 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69. The stock has a market cap of $51.46 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.57 and a beta of 1.21.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the company earned $1.90 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts forecast that Illinois Tool Works Inc. will post 7.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

In related news, EVP John R. Hartnett sold 14,323 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the transaction, the executive vice president now owns 31,695 shares in the company, valued at approximately $4,866,767.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Juan Valls sold 52,265 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $142.41, for a total value of $7,443,058.65. Following the transaction, the executive vice president now owns 78,620 shares in the company, valued at approximately $11,196,274.20. The disclosure for this sale can be found here. Insiders have sold a total of 110,142 shares of company stock worth $15,992,093 in the last three months. Corporate insiders own 0.87% of the company’s stock.

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Illinois Tool Works 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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