Russell Investments Group Ltd. increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 236,750 shares of the industrial products company’s stock after buying an additional 20,026 shares during the period. Russell Investments Group Ltd.’s holdings in Illinois Tool Works were worth $33,916,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. 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 valued at $139,000 after buying an additional 6 shares during the period. Washington Trust Bank boosted its stake in shares of Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after buying an additional 11 shares during the period. 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 valued at $512,000 after buying an additional 15 shares during the period. 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 valued at $452,000 after buying an additional 26 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Illinois Tool Works by 0.4% in the second quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock valued at $970,000 after buying an additional 26 shares during the period. 74.77% of the stock is owned by institutional investors.

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.4631% on Wednesday, hitting $139.7341. 524,737 shares of the stock traded hands. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29. The firm’s 50 day moving average is $142.98 and its 200-day moving average is $137.72. The company has a market cap of $48.09 billion, a PE ratio of 22.6107 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the business earned $1.46 EPS. Illinois Tool Works’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.24%. Illinois Tool Works’s payout ratio is currently 42.07%.

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Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised 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 note on Wednesday, July 12th. Royal Bank Of Canada lifted their target price on shares of Illinois Tool Works from $125.00 to $141.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $136.00 target price (down previously from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $152.67.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 52,447 shares of Illinois Tool Works stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the sale, the chief financial officer now directly owns 67,383 shares in the company, valued at approximately $9,475,397.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works 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 owns 55,878 shares in the company, valued at $8,046,432. The disclosure for this sale can be found here. Insiders have sold a total of 100,664 shares of company stock worth $14,329,625 over the last 90 days. 0.90% of the stock is 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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