Intellectus Partners LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 13.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,292 shares of the industrial products company’s stock after acquiring an additional 151 shares during the period. Intellectus Partners LLC’s holdings in Illinois Tool Works were worth $186,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ITW. BlackRock Inc. raised its position in shares of Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after acquiring an additional 18,221,359 shares during the period. Janus Henderson Group PLC raised its position in shares of Illinois Tool Works by 2,939.8% in the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after acquiring an additional 3,628,722 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Illinois Tool Works by 100.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after acquiring an additional 707,287 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Illinois Tool Works by 116.7% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,032,408 shares of the industrial products company’s stock worth $147,892,000 after acquiring an additional 555,923 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 2.3% in the second quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock worth $3,241,417,000 after acquiring an additional 500,583 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.

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Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.99%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.78%.

In related news, EVP Juan Valls sold 48,622 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now directly owns 95,328 shares in the company, valued at $14,984,608.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,506 shares of company stock worth $19,801,832. Corporate insiders own 0.90% of the company’s stock.

A number of research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. Morgan Stanley boosted their target price on shares of Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a research note on Tuesday, October 24th. Credit Suisse Group cut their target price on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Finally, Argus reissued a “buy” rating and set a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $157.27.

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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