MUFG Securities EMEA plc 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 filing with the SEC. The institutional investor purchased 93,462 shares of the industrial products company’s stock, valued at approximately $14,095,000.

Other hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC boosted its holdings in Illinois Tool Works by 15,116.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after purchasing an additional 656,821 shares during the period. First Trust Advisors LP increased its position in Illinois Tool Works by 144.7% in the 1st quarter. First Trust Advisors LP now owns 540,743 shares of the industrial products company’s stock worth $77,613,000 after buying an additional 319,752 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after buying an additional 227,625 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Illinois Tool Works by 26.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 736,032 shares of the industrial products company’s stock worth $111,001,000 after buying an additional 153,450 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Illinois Tool Works during the first quarter worth approximately $21,156,000. Institutional investors own 77.96% of the company’s stock.

In other Illinois Tool Works news, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the completion of the transaction, the insider now owns 16,315 shares in the company, valued at $2,610,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven L. Martindale sold 48,622 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $155.88, for a total value of $7,579,197.36. Following the sale, the executive vice president now directly owns 84,546 shares in the company, valued at $13,179,030.48. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

Several equities research analysts have recently issued reports on ITW shares. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a research note on Wednesday, June 26th. Credit Suisse Group upped their target price on shares of Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a report on Monday, July 29th. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 price target on the stock. in a research report on Tuesday, July 9th. Finally, UBS Group raised their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $142.33.

ITW stock traded up $1.21 during midday trading on Wednesday, hitting $158.57. The stock had a trading volume of 80,260 shares, compared to its average volume of 1,089,419. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $160.78. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The stock has a 50-day simple moving average of $150.88 and a 200 day simple moving average of $149.48. The firm has a market capitalization of $49.72 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.72 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 7.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be given a dividend of $1.07 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is 52.63%.

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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