State of Wisconsin Investment Board increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,645 shares of the industrial products company’s stock after acquiring an additional 65,290 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of Illinois Tool Works worth $37,481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ITW. Central Bank & Trust Co. increased its holdings in shares of Illinois Tool Works by 26.0% in the 1st quarter. Central Bank & Trust Co. now owns 42,158 shares of the industrial products company’s stock worth $5,585,000 after acquiring an additional 8,712 shares during the period. Greenleaf Trust increased its holdings in shares of Illinois Tool Works by 2.1% in the 1st quarter. Greenleaf Trust now owns 2,807 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 57 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Illinois Tool Works by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock worth $1,179,646,000 after acquiring an additional 308,538 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Illinois Tool Works by 372,690.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 41,007 shares of the industrial products company’s stock worth $5,432,000 after acquiring an additional 40,996 shares during the period. Finally, Brookstone Capital Management acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth about $431,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $143.00 price objective on shares of Illinois Tool Works in a report on Wednesday, September 13th. 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. Stifel Nicolaus reissued a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Morgan Stanley reissued 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 reissued 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $150.64.

Illinois Tool Works Inc. (NYSE:ITW) opened at 147.76 on Thursday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The stock’s 50 day moving average is $139.67 and its 200 day moving average is $139.40. The company has a market cap of $50.85 billion, a price-to-earnings ratio of 23.91 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced 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. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 business posted $1.46 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.45 earnings per share for the current year.

The company 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. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is currently 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.

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

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