Nomura Holdings Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 43.9% during the first quarter, Holdings Channel reports. The institutional investor owned 24,012 shares of the industrial products company’s stock after selling 18,813 shares during the period. Nomura Holdings Inc.’s holdings in Illinois Tool Works were worth $3,182,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ITW. Bremer Trust National Association raised its stake in shares of Illinois Tool Works by 1.7% in the first quarter. Bremer Trust National Association now owns 23,697 shares of the industrial products company’s stock worth $3,139,000 after buying an additional 402 shares in the last quarter. Elkhorn Investments LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth approximately $1,284,000. Cutter & CO Brokerage Inc. raised its stake in shares of Illinois Tool Works by 10.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock worth $1,237,000 after buying an additional 874 shares in the last quarter. Beacon Trust Co. raised its stake in shares of Illinois Tool Works by 0.5% in the first quarter. Beacon Trust Co. now owns 76,593 shares of the industrial products company’s stock worth $10,111,000 after buying an additional 360 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Illinois Tool Works during the first quarter worth approximately $6,750,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up 0.55% during mid-day trading on Friday, hitting $138.22. 305,250 shares of the company were exchanged. The company has a market capitalization of $47.57 billion, a price-to-earnings ratio of 22.37 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The firm has a 50 day moving average of $143.57 and a 200 day moving average of $137.32.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

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A number of research analysts have issued reports on ITW shares. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Wednesday, July 12th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and upped their target price for the company from $131.00 to $155.00 in a research report on Thursday, June 1st. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Deutsche Bank AG restated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Illinois Tool Works in a research report on Saturday, April 29th. One research 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 company has an average rating of “Hold” and a consensus target price of $152.67.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares in the company, valued at $8,046,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the sale, the chief financial officer now owns 67,383 shares in the company, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders sold 100,664 shares of company stock worth $14,329,625 over the last quarter. 0.90% of the stock is currently owned by company insiders.

Illinois Tool Works Company 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.

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

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