Nikko Asset Management Americas Inc. maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,700 shares of the industrial products company’s stock at the close of the 2nd quarter. Nikko Asset Management Americas Inc.’s holdings in Illinois Tool Works were worth $817,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $1,986,000. First Personal Financial Services raised its stake in shares of Illinois Tool Works by 6.0% in the 2nd quarter. First Personal Financial Services now owns 2,142 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 121 shares during the period. Beacon Investment Advisory Services Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $273,000. Hartland & Co. LLC raised its stake in shares of Illinois Tool Works by 1.0% in the 2nd quarter. Hartland & Co. LLC now owns 4,345 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 45 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of Illinois Tool Works by 40.6% in the 2nd quarter. Ballentine Partners LLC now owns 6,051 shares of the industrial products company’s stock valued at $855,000 after acquiring an additional 1,746 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

ITW has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price target for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $150.64.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 147.40 on Friday. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The stock has a market capitalization of $50.73 billion, a P/E ratio of 23.85 and a beta of 1.11. The company’s 50-day moving average is $139.67 and its 200 day moving average is $139.40.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Illinois Tool Works’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.78 dividend. This is a positive change 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 annualized dividend and a yield of 2.12%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

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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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