BlackRock Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,436,577 shares of the industrial products company’s stock after purchasing an additional 1,118,381 shares during the quarter. BlackRock Inc. owned approximately 5.94% of Illinois Tool Works worth $2,927,540,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ITW. Old Mutual Global Investors UK Ltd. grew its stake in 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 purchasing an additional 555,923 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Illinois Tool Works by 13,930.9% in the second quarter. Harbour Capital Advisors LLC now owns 498,940 shares of the industrial products company’s stock worth $3,483,000 after purchasing an additional 495,384 shares in the last quarter. Janus Capital Management LLC grew its stake in Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock worth $390,967,000 after purchasing an additional 482,027 shares in the last quarter. Prudential Financial Inc. grew its stake in Illinois Tool Works by 58.5% in the first quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock worth $161,380,000 after purchasing an additional 449,430 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Illinois Tool Works by 672.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 474,412 shares of the industrial products company’s stock worth $67,960,000 after purchasing an additional 412,982 shares in the last quarter. 74.76% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Illinois Tool Works Inc. (ITW) Shares Bought by BlackRock Inc.” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/10/18/illinois-tool-works-inc-itw-shares-bought-by-blackrock-inc.html.
Several analysts have issued reports on ITW shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Wednesday, July 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $162.00 target price on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company set a $170.00 target price on Illinois Tool Works and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $153.87.
Illinois Tool Works Inc. (NYSE ITW) opened at 153.07 on Wednesday. The firm’s 50 day moving average price is $145.40 and its 200-day moving average price is $141.47. The stock has a market cap of $52.68 billion, a price-to-earnings ratio of 24.77 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $154.38.
Illinois Tool Works (NYSE:ITW) last posted its quarterly 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. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a dividend of $0.78 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.04%. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is currently 50.49%.
In related news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.
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).
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 MarketBeat.com's FREE daily email newsletter.