Conning Inc. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,247 shares of the industrial products company’s stock after selling 109 shares during the quarter. Conning Inc.’s holdings in Illinois Tool Works were worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Washington Trust Bank increased its position in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 11 shares during the last quarter. Trust Co. of Virginia VA increased its position in shares of Illinois Tool Works by 0.4% during the 1st quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after purchasing an additional 15 shares during the last quarter. Marietta Wealth Management LLC increased its position in shares of Illinois Tool Works by 0.8% during the 1st quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 26 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Illinois Tool Works by 0.4% during the 2nd quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock valued at $970,000 after purchasing an additional 26 shares during the last quarter. Finally, Buckingham Asset Management LLC increased its position in shares of Illinois Tool Works by 1.6% during the 1st quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 148.00 on Wednesday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The stock has a market capitalization of $50.93 billion, a PE ratio of 23.95 and a beta of 1.11. The company’s 50-day moving average price is $139.67 and its 200 day moving average price is $139.40.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. 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 analysts’ expectations of $3.61 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post $6.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.78 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.11%. Illinois Tool Works’s dividend payout ratio is currently 42.07%.

Several equities analysts have recently commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective 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 reiterated a “hold” rating and set a $147.00 price objective 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 assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $150.64.

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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