Capital Investment Advisory Services LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,170 shares of the industrial products company’s stock after purchasing an additional 209 shares during the period. Capital Investment Advisory Services LLC’s holdings in Illinois Tool Works were worth $311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FCM Investments TX acquired a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $106,000. MCF Advisors LLC raised its position in shares of Illinois Tool Works by 32.0% during the 1st quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 200 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of Illinois Tool Works by 88.3% during the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 416 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $132,000. Finally, Hudock Capital Group LLC raised its position in shares of Illinois Tool Works by 0.6% during the 1st quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 6 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors.

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Several research firms recently issued reports on ITW. BMO Capital Markets reissued a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 20th. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. BidaskClub lowered Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $150.64.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 142.85 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29. The firm has a market capitalization of $49.16 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11. The firm has a 50-day moving average price of $138.94 and a 200 day moving average price of $138.87.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business 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% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal 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 given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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.

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

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