Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,087 shares of the industrial products company’s stock after buying an additional 740 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Illinois Tool Works were worth $939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Hudock Capital Group LLC boosted its stake in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares in the last quarter. Trust Co. of Virginia VA boosted its stake in shares of Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after buying an additional 15 shares in the last quarter. Marietta Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock worth $452,000 after buying an additional 26 shares in the last quarter. Buckingham Asset Management LLC boosted its stake in shares of Illinois Tool Works by 1.6% in the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock worth $238,000 after buying an additional 29 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in shares of Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock worth $184,000 after buying an additional 32 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (NYSE ITW) traded down 0.72% during trading on Monday, reaching $141.85. 70,478 shares of the company’s stock traded hands. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The firm has a market capitalization of $48.90 billion, a PE ratio of 22.95 and a beta of 1.11. The company has a 50-day moving average price of $144.97 and a 200 day moving average price of $136.73.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post $6.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.18%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is presently 42.07%.

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A number of analysts have commented on the stock. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Barclays PLC increased their price objective on shares of Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $155.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $152.67.

In other news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the completion of the sale, the insider now owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ernest Scott Santi sold 101,297 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the sale, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at approximately $26,383,330.26. The disclosure for this sale can be found here. In the last three months, insiders sold 201,961 shares of company stock valued at $28,311,650. 0.90% of the stock is owned by insiders.

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.

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

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