UBS Asset Management Americas Inc. Buys 19,240 Shares of Illinois Tool Works Inc. (ITW)

UBS Asset Management Americas Inc. lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,019,209 shares of the industrial products company’s stock after buying an additional 19,240 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.30% of Illinois Tool Works worth $146,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ITW. Omnia Family Wealth LLC boosted its stake in shares of Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the last quarter. Private Vista LLC boosted its stake in shares of Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after buying an additional 277,508 shares during the last quarter. TrimTabs Asset Management LLC boosted 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 during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $132,000. Finally, Washington Trust Bank boosted its stake in shares of Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 74.76% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at 153.48 on Friday. The stock has a market cap of $52.82 billion, a P/E ratio of 24.83 and a beta of 1.12. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $154.39. The stock has a 50 day moving average price of $147.06 and a 200 day moving average price of $141.94.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 50.83% and a net margin of 16.31%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a dividend of $0.78 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.03%. Illinois Tool Works’s payout ratio is presently 50.49%.

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In other news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

A number of brokerages have recently commented on ITW. Wells Fargo & Co set a $170.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research note on Monday. They noted that the move was a valuation call. J P Morgan Chase & Co upgraded Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $132.00 to $140.00 in a research note on Tuesday, October 10th. Citigroup Inc. restated a “buy” rating and issued a $171.00 target price (up previously from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. Morgan Stanley restated an “equal weight” rating and issued a $147.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $153.87.

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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