Candriam Luxembourg S.C.A. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,495 shares of the industrial products company’s stock after purchasing an additional 2,826 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Illinois Tool Works were worth $4,660,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in Illinois Tool Works during the second quarter valued at $601,000. Quantbot Technologies LP grew its stake in Illinois Tool Works by 71.3% in the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after purchasing an additional 10,457 shares in the last quarter. Ffcm LLC grew its stake in Illinois Tool Works by 6.4% in the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after purchasing an additional 714 shares in the last quarter. Oakmont Partners LLC grew its stake in Illinois Tool Works by 51.1% in the second quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 5,362 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in Illinois Tool Works by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after purchasing an additional 786 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors.

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A number of research analysts have commented on the company. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Morgan Stanley boosted their target price on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. BMO Capital Markets boosted their target price on Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, October 24th. Credit Suisse Group decreased their price target on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Finally, Argus reiterated a “buy” rating and set a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $157.27.

In related news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the sale, the insider now owns 18,622 shares of the company’s stock, valued at approximately $2,886,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Norman D. Jr. Finch acquired 4,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the purchase, the vice president now directly owns 4,371 shares in the company, valued at approximately $683,362.14. The disclosure for this purchase can be found here. Insiders sold a total of 126,506 shares of company stock worth $19,801,832 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Illinois Tool Works Inc. (NYSE ITW) opened at $157.14 on Monday. The company has a market capitalization of $53,836.01, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works Inc. has a 12-month low of $120.06 and a 12-month high of $159.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. equities research analysts predict that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. Illinois Tool Works’s dividend payout ratio is currently 47.78%.

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.

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

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