Public Employees Retirement Association of Colorado reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 517,536 shares of the industrial products company’s stock after selling 507 shares during the period. Public Employees Retirement Association of Colorado owned about 0.15% of Illinois Tool Works worth $74,137,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. FCM Investments TX bought a new stake in Illinois Tool Works during the first quarter valued at approximately $106,000. MCF Advisors LLC increased its stake in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares in the last quarter. FNY Partners Fund LP bought a new stake in Illinois Tool Works during the first quarter valued at approximately $132,000. Finally, Hudock Capital Group LLC increased its stake in Illinois Tool Works by 0.6% in 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 in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Inc. (NYSE ITW) opened at 136.81 on Monday. The firm’s 50 day moving average price is $141.50 and its 200-day moving average price is $138.11. The stock has a market cap of $47.08 billion, a price-to-earnings ratio of 22.14 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. Analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The firm 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 $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.28%. 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%.

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Several analysts have commented on ITW shares. Goldman Sachs Group, Inc. (The) raised Illinois Tool Works from a “sell” rating to a “buy” rating and upped their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. BMO Capital Markets reiterated a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $155.00 target price on shares of Illinois Tool Works in a research report on Tuesday, May 16th. Two equities research 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 company presently has a consensus rating of “Hold” and an average price target of $150.64.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the transaction, the insider now owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.

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

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