Shelter Ins Retirement Plan lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,400 shares of the industrial products company’s stock after selling 3,900 shares during the period. Illinois Tool Works makes up 2.4% of Shelter Ins Retirement Plan’s portfolio, making the stock its 22nd biggest position. Shelter Ins Retirement Plan’s holdings in Illinois Tool Works were worth $5,071,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ITW. MCF Advisors LLC raised its holdings in shares of Illinois Tool Works by 32.0% in the 1st quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 200 shares during the period. TrimTabs Asset Management LLC lifted its stake in shares of Illinois Tool Works by 88.3% in the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 416 shares in the last quarter. Washington Trust Bank lifted its stake 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 purchasing an additional 11 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $132,000. Finally, Dubuque Bank & Trust Co. lifted its stake in shares of Illinois Tool Works by 56.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,022 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 367 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.

ITW has been the subject of a number of research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $151.50.

Shares of Illinois Tool Works Inc. (ITW) opened at 150.16 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The stock’s 50 day moving average price is $141.50 and its 200 day moving average price is $140.29. The firm has a market capitalization of $51.68 billion, a P/E ratio of 24.30 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 50.49%.

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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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