Thomas Story & Son LLC held its stake in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,471 shares of the industrial products company’s stock at the end of the second quarter. Illinois Tool Works comprises 4.6% of Thomas Story & Son LLC’s holdings, making the stock its 7th largest position. Thomas Story & Son LLC’s holdings in Illinois Tool Works were worth $7,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Washington Trust Bank increased its holdings in shares of Illinois Tool Works by 1.1% in the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 11 shares during the period. Trust Co. of Virginia VA increased its holdings in shares of Illinois Tool Works by 0.4% in the 1st quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after acquiring an additional 15 shares during the period. Marietta Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 0.8% in the 1st quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 26 shares during the period. CENTRAL TRUST Co increased its holdings in shares of Illinois Tool Works by 0.4% in the 2nd quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock valued at $970,000 after acquiring an additional 26 shares during the period. Finally, Buckingham Asset Management LLC increased its holdings in shares of Illinois Tool Works by 1.6% in the 1st quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 29 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (ITW) opened at 147.40 on Monday. The stock has a market capitalization of $50.73 billion, a price-to-earnings ratio of 23.85 and a beta of 1.11. The company has a 50 day moving average of $139.67 and a 200 day moving average of $139.40. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. 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. Investors of record on Friday, September 29th will be issued a dividend of $0.78 per share. This is a positive change 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 2.12%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 42.07%.

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Several brokerages have issued reports on ITW. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $150.64.

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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