Blair William & Co. IL Has $100.83 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Blair William & Co. IL lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 425,505 shares of the industrial products company’s stock after selling 10,045 shares during the period. Blair William & Co. IL owned about 0.14% of Illinois Tool Works worth $100,828,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. PEAK6 Investments LLC grew its position in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Illinois Tool Works in the first quarter worth $1,147,000. Norden Group LLC grew its holdings in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after buying an additional 25,144 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Illinois Tool Works by 6.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after buying an additional 12,065 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW opened at $254.72 on Wednesday. The stock has a market cap of $76.01 billion, a PE ratio of 25.12, a P/E/G ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The stock’s 50 day simple moving average is $245.38 and its 200-day simple moving average is $248.22. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business earned $2.41 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ITW. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $250.22.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.