Boys Arnold & Co. Inc. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,391 shares of the industrial products company’s stock after selling 400 shares during the period. Boys Arnold & Co. Inc.’s holdings in Illinois Tool Works were worth $1,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after acquiring an additional 18,221,359 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock worth $603,315,000 after acquiring an additional 67,451 shares during the last quarter. FMR LLC boosted its position in shares of Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock worth $456,912,000 after acquiring an additional 23,205 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after acquiring an additional 203,294 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock worth $390,967,000 after acquiring an additional 482,027 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 147.96 on Friday. The stock’s 50 day moving average is $139.67 and its 200-day moving average is $139.40. The stock has a market cap of $50.92 billion, a price-to-earnings ratio of 23.94 and a beta of 1.11. 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 announced 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 during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post $6.46 EPS 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 dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.11%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio is presently 50.49%.

ITW has been the topic of several research analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $170.00 target price (up from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $162.00 price target on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $150.71.

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.

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

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