Neuberger Berman Group LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,703 shares of the industrial products company’s stock after selling 1,732 shares during the period. Neuberger Berman Group LLC’s holdings in Illinois Tool Works were worth $3,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in Illinois Tool Works by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 6,733 shares of the industrial products company’s stock valued at $965,000 after acquiring an additional 522 shares in the last quarter. Utah Retirement Systems raised its holdings in Illinois Tool Works by 3.4% in the 2nd quarter. Utah Retirement Systems now owns 55,790 shares of the industrial products company’s stock valued at $7,991,000 after acquiring an additional 1,843 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Illinois Tool Works by 19.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,426 shares of the industrial products company’s stock valued at $11,091,000 after acquiring an additional 12,440 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Illinois Tool Works by 10.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 530,993 shares of the industrial products company’s stock valued at $76,061,000 after acquiring an additional 51,019 shares in the last quarter. Finally, Coho Partners Ltd. raised its holdings in Illinois Tool Works by 26.2% in the 2nd quarter. Coho Partners Ltd. now owns 1,322,756 shares of the industrial products company’s stock valued at $189,485,000 after acquiring an additional 274,478 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (NYSE:ITW) opened at 147.96 on Friday. The firm has a market cap of $50.92 billion, a PE ratio of 23.94 and a beta of 1.11. The firm has a 50-day moving average price of $139.67 and a 200-day moving average price of $139.40. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The company also recently declared 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. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. 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%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 50.49%.

ITW has been the subject of several analyst reports. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $141.00 to $132.00 in a report on Thursday, August 17th. Two research 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 stock presently has a consensus rating of “Hold” and an average target price of $150.71.

TRADEMARK VIOLATION WARNING: “Neuberger Berman Group LLC Has $3.68 Million Holdings in Illinois Tool Works Inc. (ITW)” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/01/neuberger-berman-group-llc-has-3-68-million-holdings-in-illinois-tool-works-inc-itw.html.

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.