Chicago Partners Investment Group LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,930 shares of the industrial products company’s stock, valued at approximately $270,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FCM Investments TX bought a new stake in Illinois Tool Works during the 1st quarter valued at about $106,000. MCF Advisors LLC lifted its holdings in Illinois Tool Works by 32.0% during the 1st 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 lifted its holdings in Illinois Tool Works by 88.3% during the 1st 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 1st quarter valued at about $132,000. Finally, Hudock Capital Group LLC lifted its holdings in Illinois Tool Works by 0.6% during the 1st 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. 74.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (ITW) opened at 142.85 on Wednesday. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The stock has a 50 day moving average of $138.94 and a 200 day moving average of $138.87.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

A number of brokerages recently weighed in on ITW. BidaskClub lowered shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Robert W. Baird set a $145.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Thursday, August 24th. J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $150.64.

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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.

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

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