WESPAC Advisors LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 50.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,897 shares of the industrial products company’s stock after buying an additional 967 shares during the period. WESPAC Advisors LLC’s holdings in Illinois Tool Works were worth $415,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ITW. Bank of New York Mellon Corp raised its holdings 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 valued at $603,315,000 after buying an additional 67,451 shares during the last quarter. Comerica Bank raised its holdings in shares of Illinois Tool Works by 0.8% in the first quarter. Comerica Bank now owns 117,265 shares of the industrial products company’s stock valued at $16,349,000 after buying an additional 897 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Illinois Tool Works by 2.9% in the first quarter. Xact Kapitalforvaltning AB now owns 49,951 shares of the industrial products company’s stock valued at $6,617,000 after buying an additional 1,395 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of Illinois Tool Works by 12.0% in the first quarter. Pictet Asset Management Ltd. now owns 204,191 shares of the industrial products company’s stock valued at $27,050,000 after buying an additional 21,900 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC raised its holdings in shares of Illinois Tool Works by 0.5% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 9,974 shares of the industrial products company’s stock valued at $1,321,000 after buying an additional 50 shares during the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on ITW. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. J P Morgan Chase & Co raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their target price for the company from $132.00 to $140.00 in a report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a report on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $152.71.

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Illinois Tool Works Inc. (ITW) opened at 151.62 on Wednesday. The stock’s 50 day moving average is $143.80 and its 200-day moving average is $141.03. The firm has a market capitalization of $52.18 billion, a price-to-earnings ratio of 24.53 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $152.62.

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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post $6.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were given a $0.78 dividend. The ex-dividend date of this dividend was 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 yield of 2.06%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 50.49%.

In related news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

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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