Weiss Multi Strategy Advisers LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, Holdings Channel reports. The firm bought 10,965 shares of the industrial products company’s stock, valued at approximately $1,453,000.

A number of other institutional investors also recently made changes to their positions in the stock. FCM Investments TX bought a new position in shares of Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC increased its stake in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. TrimTabs Asset Management LLC increased 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. Hudock Capital Group LLC increased 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 during the last quarter. Finally, Baystate Wealth Management LLC increased its stake in shares of Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded down 1.59% during trading on Thursday, reaching $138.49. The company’s stock had a trading volume of 328,724 shares. The stock’s 50 day moving average price is $143.83 and its 200 day moving average price is $137.32. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The company has a market cap of $47.66 billion, a PE ratio of 22.41 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its 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. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.22%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

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ITW has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a report on Tuesday, July 25th. Argus upped their price target on shares of Illinois Tool Works from $145.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $144.00 price target (up from $140.00) on shares of Illinois Tool Works in a report on Tuesday, April 25th. Finally, Barclays PLC upped their price target on shares of Illinois Tool Works from $130.00 to $141.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $152.67.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 101,297 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $138.03, for a total value of $13,982,024.91. Following the transaction, the chief executive officer now owns 191,142 shares in the company, valued at $26,383,330.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the transaction, the chief financial officer now owns 67,383 shares in the company, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,961 shares of company stock worth $28,311,650. Corporate insiders own 0.90% of the company’s stock.

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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