First Personal Financial Services grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,142 shares of the industrial products company’s stock after purchasing an additional 121 shares during the period. First Personal Financial Services’ holdings in Illinois Tool Works were worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ITW. Oakmont Partners LLC increased its holdings in Illinois Tool Works by 51.1% during the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock worth $2,271,000 after buying an additional 5,362 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in Illinois Tool Works by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock worth $2,650,000 after buying an additional 786 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in Illinois Tool Works by 22.8% during the second quarter. Koshinski Asset Management Inc. now owns 2,151 shares of the industrial products company’s stock worth $308,000 after buying an additional 399 shares during the last quarter. Elkhorn Investments LLC acquired a new position in Illinois Tool Works during the first quarter worth $1,284,000. Finally, Cutter & CO Brokerage Inc. increased its holdings in Illinois Tool Works by 10.3% during the first quarter. Cutter & CO Brokerage Inc. now owns 9,340 shares of the industrial products company’s stock worth $1,237,000 after buying an additional 874 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

ITW has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $155.00 in a report on Thursday, June 1st. Morgan Stanley restated an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. BMO Capital Markets restated a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a report on Thursday, July 20th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Two 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. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $150.64.

COPYRIGHT VIOLATION NOTICE: “First Personal Financial Services Acquires 121 Shares of Illinois Tool Works Inc. (ITW)” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/23/first-personal-financial-services-acquires-121-shares-of-illinois-tool-works-inc-itw.html.

Illinois Tool Works Inc. (NYSE:ITW) opened at 147.40 on Friday. The firm has a 50 day moving average of $139.67 and a 200 day moving average of $139.40. The firm has a market capitalization of $50.73 billion, a P/E ratio of 23.85 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.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $3.61 billion. During the same period last year, the firm posted $1.46 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Illinois Tool Works Inc. will post $6.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.12%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 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)

Receive News & Stock Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related stocks with our FREE daily email newsletter.