Sei Investments Co. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,996 shares of the industrial products company’s stock after buying an additional 4,630 shares during the quarter. Sei Investments Co.’s holdings in Illinois Tool Works were worth $19,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Illinois Tool Works by 1,661.3% in the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after purchasing an additional 18,221,359 shares during the period. Wells Fargo & Company MN raised 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 purchasing an additional 308,538 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Illinois Tool Works by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock worth $603,315,000 after purchasing an additional 67,451 shares during the period. FMR LLC raised its holdings in shares of Illinois Tool Works by 0.7% in the 1st quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock worth $456,912,000 after purchasing an additional 23,205 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after purchasing an additional 203,294 shares during the period. 74.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on ITW shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 price target (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $155.00 in a report on Thursday, June 1st. Finally, Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $150.64.

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Shares of Illinois Tool Works Inc. (ITW) opened at 140.04 on Monday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The firm’s 50-day moving average is $139.10 and its 200-day moving average is $138.67. The company has a market cap of $48.19 billion, a PE ratio of 22.66 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the firm earned $1.46 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be given a $0.78 dividend. The ex-dividend date is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.23%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

Illinois Tool Works 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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