Fmr LLC Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Fmr LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,088,327 shares of the industrial products company’s stock after buying an additional 105,691 shares during the period. Fmr LLC’s holdings in Illinois Tool Works were worth $243,306,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITW. APG Asset Management N.V. grew its stake in shares of Illinois Tool Works by 171.1% in the 1st quarter. APG Asset Management N.V. now owns 539,925 shares of the industrial products company’s stock valued at $101,765,000 after buying an additional 340,798 shares during the period. Credit Suisse AG grew its stake in shares of Illinois Tool Works by 34.5% in the 1st quarter. Credit Suisse AG now owns 978,031 shares of the industrial products company’s stock valued at $216,655,000 after buying an additional 251,114 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $43,778,000. Royal Bank of Canada boosted its position in shares of Illinois Tool Works by 25.9% during the 1st quarter. Royal Bank of Canada now owns 1,093,489 shares of the industrial products company’s stock worth $242,229,000 after purchasing an additional 224,627 shares during the period. Finally, Morgan Stanley boosted its position in shares of Illinois Tool Works by 16.6% during the 1st quarter. Morgan Stanley now owns 1,202,238 shares of the industrial products company’s stock worth $266,318,000 after purchasing an additional 171,323 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Illinois Tool Works in a research report on Thursday, October 7th. They set an “equal weight” rating and a $219.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Illinois Tool Works from $208.00 to $198.00 and set an “underweight” rating for the company in a research report on Thursday, October 7th. Citigroup increased their price objective on shares of Illinois Tool Works from $252.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, August 2nd. Credit Suisse Group increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Illinois Tool Works from $227.00 to $238.00 and gave the company a “hold” rating in a research report on Wednesday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $226.88.

Shares of ITW opened at $214.78 on Thursday. Illinois Tool Works Inc. has a twelve month low of $192.29 and a twelve month high of $242.07. The firm’s fifty day simple moving average is $222.48 and its 200-day simple moving average is $226.21. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.16 and a beta of 1.08. The company has a current ratio of 2.20, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 30th. The industrial products company reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.01. Illinois Tool Works had a net margin of 19.07% and a return on equity of 81.66%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the business earned $1.01 EPS. The company’s revenue was up 43.4% on a year-over-year basis. On average, analysts predict that Illinois Tool Works Inc. will post 8.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, September 29th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 69.71%.

About Illinois Tool Works

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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

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