Howland Capital Management LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, HoldingsChannel reports. The firm purchased 1,420 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc boosted its holdings in Illinois Tool Works by 1.3% in the third 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 during the last quarter. Northern Trust Corp boosted its holdings in Illinois Tool Works by 2.2% in the fourth 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 during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Illinois Tool Works by 12,441.3% in the fourth 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Illinois Tool Works by 27.6% in the fourth 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Illinois Tool Works by 4.9% in the third 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 during the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

ITW has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. Stifel Nicolaus increased their target price on Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. BMO Capital Markets reduced their target price on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a report on Monday, February 25th. Citigroup downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price on the stock. in a report on Monday, January 14th. Finally, Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $136.60.

In related news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the sale, the insider now owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total value of $1,986,500.00. Following the completion of the sale, the executive vice president now directly owns 29,448 shares in the company, valued at approximately $4,034,376. The disclosure for this sale can be found here. In the last three months, insiders sold 128,970 shares of company stock worth $18,348,472. Company insiders own 0.87% of the company’s stock.

NYSE:ITW opened at $157.19 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $158.89. The company has a market cap of $51.27 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.59 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.01. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 7.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.63%.

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About Illinois Tool Works

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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