First National Trust Co. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,142 shares of the industrial products company’s stock after purchasing an additional 84 shares during the quarter. First National Trust Co.’s holdings in Illinois Tool Works were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ITW. BlackRock Inc. lifted its stake in shares of Illinois Tool Works by 1,661.3% in the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after purchasing an additional 18,221,359 shares during the period. HPM Partners LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $95,987,000. Harbour Capital Advisors LLC lifted its stake in shares of Illinois Tool Works by 13,930.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 498,940 shares of the industrial products company’s stock valued at $3,483,000 after purchasing an additional 495,384 shares during the period. Janus Capital Management LLC lifted its stake in shares of Illinois Tool Works by 19.5% in the 1st quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after purchasing an additional 482,027 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Illinois Tool Works by 58.5% in the 1st quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock valued at $161,380,000 after purchasing an additional 449,430 shares during the period. 74.78% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Citigroup Inc. reissued a “buy” rating and issued a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday. 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. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $150.71.

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Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 147.76 on Thursday. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The company has a market capitalization of $50.85 billion, a price-to-earnings ratio of 23.91 and a beta of 1.11. The firm’s 50-day moving average price is $139.67 and its 200-day moving average price is $139.40.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.61 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 42.07%.

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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