New Mexico Educational Retirement Board cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,950 shares of the industrial products company’s stock after selling 2,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Illinois Tool Works were worth $4,074,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FCM Investments TX purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $106,000. MCF Advisors LLC boosted its holdings in shares of 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 acquiring an additional 200 shares in the last quarter. TrimTabs Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 416 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $132,000. Finally, Hudock Capital Group LLC boosted its holdings in shares of 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 acquiring an additional 6 shares in the last quarter. Institutional investors own 74.86% of the company’s stock.

Several brokerages have recently weighed in on ITW. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $143.00 target price on shares of Illinois Tool Works in a report on Wednesday. BidaskClub downgraded 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 target price 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 downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $150.64.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 145.64 on Friday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The stock has a market cap of $50.12 billion, a P/E ratio of 23.57 and a beta of 1.11. The firm has a 50 day moving average of $139.28 and a 200 day moving average of $139.12.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Illinois Tool Works Inc. will post $6.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.14%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. 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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