Meiji Yasuda Life Insurance Co grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 34.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,870 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Illinois Tool Works were worth $554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC increased its holdings 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 acquiring an additional 416 shares during the last quarter. 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 last quarter. FNY Partners Fund LP purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at about $132,000. Dubuque Bank & Trust Co. increased its holdings 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 acquiring an additional 367 shares during the last quarter. Finally, Hudock Capital Group LLC increased its holdings in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 5 shares during the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.

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In other news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

ITW has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. 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 cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada upped their target price on Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 25th. 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. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $151.50.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 151.63 on Monday. The firm’s 50-day moving average price is $142.89 and its 200-day moving average price is $140.66. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $152.62. The firm has a market capitalization of $52.18 billion, a PE ratio of 24.54 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.06%. Illinois Tool Works’s payout ratio is currently 50.49%.

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.

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

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