Illinois Tool Works Inc. (ITW) Shares Bought by BlackRock Inc.

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.

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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.

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

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