Canada Pension Plan Investment Board Increases Holdings in Illinois Tool Works Inc. (ITW)

Canada Pension Plan Investment Board raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 505.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 76,313 shares of the industrial products company’s stock after purchasing an additional 63,706 shares during the period. Canada Pension Plan Investment Board’s holdings in Illinois Tool Works were worth $11,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Omnia Family Wealth LLC increased its stake in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2 shares during the last quarter. Private Vista LLC increased its stake in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares during the last quarter. Harding Loevner LP acquired a new stake in shares of Illinois Tool Works in the 2nd quarter worth $115,000. WFG Advisors LP increased its stake in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at $158.54 on Wednesday. The firm has a market capitalization of $53,997.03, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $159.36.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. equities research analysts anticipate that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

In other Illinois Tool Works news, EVP Juan Valls sold 48,622 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the transaction, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at approximately $11,143,659.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now directly owns 95,328 shares of the company’s stock, valued at $14,984,608.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is currently owned by corporate insiders.

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A number of analysts have issued reports on ITW shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 20th. Royal Bank Of Canada raised their target price on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 target price (up from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $136.00 target price (down from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $157.27.

Illinois Tool Works 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.

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

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