PGGM Investments cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,146 shares of the industrial products company’s stock after selling 4,977 shares during the period. PGGM Investments’ holdings in Illinois Tool Works were worth $37,696,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after buying an additional 18,221,359 shares during the period. Wells Fargo & Company MN raised its position in Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares during the period. Bank of New York Mellon Corp raised its position in Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock valued at $603,315,000 after buying an additional 67,451 shares during the period. FMR LLC raised its position in Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock valued at $456,912,000 after buying an additional 23,205 shares during the period. Finally, Geode Capital Management LLC raised its position in Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after buying an additional 203,294 shares during the period. Institutional investors own 74.77% of the company’s stock.

Illinois Tool Works Inc. (ITW) traded up 0.65% during midday trading on Friday, hitting $138.36. The company had a trading volume of 964,291 shares. The firm has a 50-day moving average price of $143.35 and a 200-day moving average price of $137.43. The company has a market cap of $47.62 billion, a price-to-earnings ratio of 22.39 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.

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 consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. Equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be given a dividend of $0.78 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

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Several equities analysts have issued reports on ITW shares. Royal Bank Of Canada lifted their target price on Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 25th. Argus lifted their target price on Illinois Tool Works from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $144.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, April 25th. Finally, Barclays PLC raised their price target on Illinois Tool Works from $130.00 to $141.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $152.67.

In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the transaction, the insider now owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock valued at $14,329,625 in the last three months. 0.90% of the stock is currently owned by company 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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