TLP Group LLC Purchases Shares of 2,800 Illinois Tool Works Inc. (NYSE:ITW)

TLP Group LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,800 shares of the industrial products company’s stock, valued at approximately $371,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pioneer Trust Bank N A OR increased its position in shares of Illinois Tool Works by 1.3% in the first quarter. Pioneer Trust Bank N A OR now owns 20,855 shares of the industrial products company’s stock worth $2,762,000 after buying an additional 275 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Illinois Tool Works by 1.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 270,960 shares of the industrial products company’s stock worth $35,894,000 after buying an additional 4,367 shares in the last quarter. Moreno Evelyn V increased its position in shares of Illinois Tool Works by 14.4% in the first quarter. Moreno Evelyn V now owns 55,635 shares of the industrial products company’s stock worth $7,370,000 after buying an additional 7,000 shares in the last quarter. Woodstock Corp increased its position in shares of Illinois Tool Works by 0.8% in the first quarter. Woodstock Corp now owns 50,718 shares of the industrial products company’s stock worth $6,719,000 after buying an additional 385 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its position in shares of Illinois Tool Works by 2.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 4,092 shares of the industrial products company’s stock worth $542,000 after buying an additional 92 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at 138.36 on Friday. The firm has a market capitalization of $47.62 billion, a PE ratio of 22.39 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The stock has a 50 day moving average of $143.35 and a 200-day moving average of $137.43.

Illinois Tool Works (NYSE:ITW) last announced 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. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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A number of brokerages recently issued reports on ITW. BMO Capital Markets reiterated a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. 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 note on Wednesday, July 12th. 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, Stifel Nicolaus restated a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $152.67.

In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the sale, the chief financial officer now directly owns 67,383 shares in the company, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock worth $14,329,625 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

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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