Vanguard Group Inc. Has $3.24 Billion Holdings in Illinois Tool Works Inc. (ITW)

Vanguard Group Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,627,699 shares of the industrial products company’s stock after acquiring an additional 500,583 shares during the period. Vanguard Group Inc. owned about 6.57% of Illinois Tool Works worth $3,241,417,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Segment Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the second quarter worth about $205,000. GSA Capital Partners LLP raised its position in shares of Illinois Tool Works by 198.4% during the 2nd quarter. GSA Capital Partners LLP now owns 11,643 shares of the industrial products company’s stock worth $1,668,000 after purchasing an additional 7,741 shares during the last quarter. Trustmark National Bank Trust Department raised its position in shares of Illinois Tool Works by 19.6% during the 2nd quarter. Trustmark National Bank Trust Department now owns 3,198 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 524 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Illinois Tool Works by 1.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,019,209 shares of the industrial products company’s stock worth $146,002,000 after purchasing an additional 19,240 shares during the last quarter. Finally, Quantitative Investment Management LLC raised its position in shares of Illinois Tool Works by 1.8% during the 2nd quarter. Quantitative Investment Management LLC now owns 34,500 shares of the industrial products company’s stock worth $4,942,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.

In other Illinois Tool Works 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 transaction of $979,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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Shares of Illinois Tool Works Inc. (ITW) opened at 155.03 on Friday. The firm has a 50-day moving average of $147.56 and a 200-day moving average of $142.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $155.12. The firm has a market cap of $53.35 billion, a P/E ratio of 25.09 and a beta of 1.12.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.01%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is presently 50.49%.

Several research analysts recently weighed in on ITW shares. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and set a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company set a $170.00 price target on shares of Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $153.87.

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.

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

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