Main Street Research LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 84,008 shares of the industrial products company’s stock, valued at approximately $13,146,000. Illinois Tool Works comprises 2.5% of Main Street Research LLC’s holdings, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. OLD Point Trust & Financial Services N A bought a new position in Illinois Tool Works in the 2nd quarter valued at approximately $201,000. Rockland Trust Co. raised its holdings in Illinois Tool Works by 7.9% in the 2nd quarter. Rockland Trust Co. now owns 4,430 shares of the industrial products company’s stock valued at $668,000 after buying an additional 323 shares during the last quarter. DNB Asset Management AS raised its holdings in Illinois Tool Works by 14.7% in the 2nd quarter. DNB Asset Management AS now owns 80,951 shares of the industrial products company’s stock valued at $12,208,000 after buying an additional 10,363 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Illinois Tool Works by 70.3% in the 2nd quarter. WINTON GROUP Ltd now owns 126,431 shares of the industrial products company’s stock valued at $19,067,000 after buying an additional 52,193 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its holdings in Illinois Tool Works by 9.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,332 shares of the industrial products company’s stock valued at $502,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 77.57% of the company’s stock.

ITW has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price for the company. in a research report on Tuesday, July 9th. Morgan Stanley decreased their target price on shares of Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating for the company in a research report on Wednesday, October 16th. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus set a $143.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $141.50.

In other news, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the completion of the sale, the insider now owns 16,315 shares of the company’s stock, valued at approximately $2,610,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven L. Martindale sold 48,622 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the sale, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,458 shares of company stock valued at $25,172,163. Insiders own 0.87% of the company’s stock.

NYSE:ITW traded up $1.18 on Monday, reaching $159.49. 1,430,316 shares of the stock traded hands, compared to its average volume of 1,019,548. The firm has a market capitalization of $50.77 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $161.71. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The company’s 50 day moving average is $153.47 and its 200-day moving average is $151.49.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.97 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 7.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were given a dividend of $1.07 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, September 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.68%. Illinois Tool Works’s dividend payout ratio (DPR) is 56.32%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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