Eads & Heald Investment Counsel reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,111 shares of the industrial products company’s stock after selling 1,365 shares during the period. Illinois Tool Works accounts for approximately 1.5% of Eads & Heald Investment Counsel’s investment portfolio, making the stock its 5th largest holding. Eads & Heald Investment Counsel’s holdings in Illinois Tool Works were worth $2,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP increased its stake in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Korea Investment CORP now owns 490,896 shares of the industrial products company’s stock valued at $70,321,000 after buying an additional 2,379 shares during the period. Telemus Capital LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $214,000. Stratos Wealth Partners LTD. increased its stake in shares of Illinois Tool Works by 46.1% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 22,986 shares of the industrial products company’s stock valued at $3,293,000 after buying an additional 7,250 shares during the period. Oakworth Capital Inc. increased its stake in shares of Illinois Tool Works by 8.9% in the 2nd quarter. Oakworth Capital Inc. now owns 2,024 shares of the industrial products company’s stock valued at $290,000 after buying an additional 165 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Illinois Tool Works by 3.6% in the 2nd quarter. Sei Investments Co. now owns 134,996 shares of the industrial products company’s stock valued at $19,339,000 after buying an additional 4,630 shares during the period. 74.86% of the stock is owned by institutional investors.

Illinois Tool Works Inc. (ITW) opened at 142.85 on Wednesday. The firm has a market capitalization of $49.16 billion, a PE ratio of 23.11 and a beta of 1.11. The firm has a 50-day moving average price of $138.94 and a 200-day moving average price of $138.87. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business posted $1.46 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal 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 issued a dividend of $0.78 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

A number of equities research analysts recently commented on the company. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Two investment 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 has an average rating of “Hold” and a consensus target price of $150.64.

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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.

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

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