Oppenheimer Asset Management Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,531 shares of the industrial products company’s stock, valued at approximately $4,442,000.

Several other institutional investors have also recently made changes to their positions in ITW. FCM Investments TX bought a new stake in shares of Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC increased its stake in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares in the last quarter. Hudock Capital Group LLC increased its stake in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares in the last quarter. Finally, Baystate Wealth Management LLC increased its stake in shares of Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 1.62% during midday trading on Thursday, hitting $138.45. The company’s stock had a trading volume of 326,452 shares. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The stock’s 50 day moving average is $143.83 and its 200-day moving average is $137.32. The firm has a market cap of $47.65 billion, a P/E ratio of 22.40 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a $0.78 dividend. The ex-dividend date is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.22%. Illinois Tool Works’s payout ratio is 42.07%.

ILLEGAL ACTIVITY WARNING: “Oppenheimer Asset Management Inc. Buys New Position in Illinois Tool Works Inc. (ITW)” was reported by Watch List News and is owned by of Watch List News. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.watchlistnews.com/oppenheimer-asset-management-inc-buys-new-position-in-illinois-tool-works-inc-itw/1470778.html.

A number of equities research analysts recently issued reports on the company. BidaskClub downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research report on Tuesday, August 1st. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Northcoast Research reissued a “neutral” rating on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $136.00 price target (down previously from $140.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $152.67.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the completion of the sale, the chief financial officer now directly owns 67,383 shares in the company, valued at $9,475,397.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernest Scott Santi sold 101,297 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the sale, the chief executive officer now owns 191,142 shares of the company’s stock, valued at $26,383,330.26. The disclosure for this sale can be found here. Insiders sold 201,961 shares of company stock valued at $28,311,650 over the last quarter. 0.90% of the stock is owned by company insiders.

Illinois Tool Works Company Profile

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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.