Norris Perne & French LLP MI held its position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,966 shares of the industrial products company’s stock at the close of the second quarter. Norris Perne & French LLP MI’s holdings in Illinois Tool Works were worth $282,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ITW. Breton Hill Capital Ltd. raised its position in Illinois Tool Works by 300.1% during the first quarter. Breton Hill Capital Ltd. now owns 8,283 shares of the industrial products company’s stock valued at $1,097,000 after buying an additional 6,213 shares during the period. FCM Investments TX acquired a new position in Illinois Tool Works during the first quarter valued at $106,000. Hudock Capital Group LLC raised its position in Illinois Tool Works by 0.6% during 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. Reynders McVeigh Capital Management LLC raised its position in Illinois Tool Works by 36.3% during the first quarter. Reynders McVeigh Capital Management LLC now owns 3,096 shares of the industrial products company’s stock valued at $410,000 after buying an additional 825 shares during the period. Finally, Essex Investment Management Co. LLC raised its position in Illinois Tool Works by 0.9% during the first quarter. Essex Investment Management Co. LLC now owns 7,564 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 64 shares during the period. 74.86% of the stock is currently owned by hedge funds and other institutional investors.

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Illinois Tool Works Inc. (NYSE:ITW) opened at 143.00 on Thursday. The firm has a market cap of $49.21 billion, a price-to-earnings ratio of 23.14 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The stock’s 50 day moving average price is $138.96 and its 200-day moving average price is $138.95.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is 42.07%.

Several research analysts recently weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and set a $143.00 price target on shares of Illinois Tool Works in a research report on Wednesday. BidaskClub lowered Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Robert W. Baird set a $145.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, August 24th. J P Morgan Chase & Co lowered Illinois Tool Works from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $141.00 to $132.00 in a research report on Thursday, August 17th. 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 Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $150.64.

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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