Shares of Illinois Tool Works Inc. (NYSE:ITW) hit a new 52-week high on Friday . The stock traded as high as $119.84 and last traded at $119.72, with a volume of 1,030,941 shares traded. The stock had previously closed at $118.98.

Several brokerages recently weighed in on ITW. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Tuesday, May 3rd. Credit Suisse Group AG set a $114.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, July 21st. Deutsche Bank AG upped their price objective on Illinois Tool Works from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, April 25th. Robert W. Baird downgraded Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research report on Thursday, June 23rd. Finally, RBC Capital Markets restated a “sector perform” rating and set a $104.00 price objective (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Buy” and a consensus price target of $110.07.

The firm’s 50 day moving average is $113.90 and its 200 day moving average is $104.54. The company has a market capitalization of $42.47 billion and a P/E ratio of 22.28.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.06. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the business posted $1.30 EPS. Illinois Tool Works’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post $5.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.17%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, September 28th.

In related news, EVP Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $501,600.00. Following the completion of the sale, the executive vice president now owns 24,777 shares of the company’s stock, valued at $2,725,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernest Scott Santi sold 74,077 shares of Illinois Tool Works stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $114.24, for a total value of $8,462,556.48. Following the sale, the chief executive officer now directly owns 75,926 shares of the company’s stock, valued at approximately $8,673,786.24. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Illinois Tool Works by 3.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 912,810 shares of the company’s stock valued at $84,600,000 after buying an additional 26,714 shares during the period. King Luther Capital Management Corp raised its stake in shares of Illinois Tool Works by 147.0% in the fourth quarter. King Luther Capital Management Corp now owns 174,076 shares of the company’s stock valued at $16,133,000 after buying an additional 103,608 shares during the period. Calvert Investment Management Inc. raised its stake in shares of Illinois Tool Works by 35.6% in the fourth quarter. Calvert Investment Management Inc. now owns 22,668 shares of the company’s stock valued at $2,101,000 after buying an additional 5,955 shares during the period. Braver Wealth Management LLC raised its stake in shares of Illinois Tool Works by 9.7% in the fourth quarter. Braver Wealth Management LLC now owns 32,148 shares of the company’s stock valued at $2,980,000 after buying an additional 2,849 shares during the period. Finally, American International Group Inc. raised its stake in shares of Illinois Tool Works by 4.0% in the fourth quarter. American International Group Inc. now owns 158,702 shares of the company’s stock valued at $14,708,000 after buying an additional 6,173 shares during the period.

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

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