Illinois Tool Works Inc. (ITW) Stake Raised by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 145.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,505 shares of the industrial products company’s stock after buying an additional 44,760 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Illinois Tool Works were worth $10,013,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capstone Asset Management Co. raised its position in shares of Illinois Tool Works by 8.8% in the first quarter. Capstone Asset Management Co. now owns 42,925 shares of the industrial products company’s stock worth $5,686,000 after buying an additional 3,457 shares during the period. Baker Boyer National Bank bought a new position in shares of Illinois Tool Works during the first quarter worth approximately $212,000. Legacy Private Trust Co. raised its position in shares of Illinois Tool Works by 3.1% in the first quarter. Legacy Private Trust Co. now owns 4,800 shares of the industrial products company’s stock worth $636,000 after buying an additional 145 shares during the period. Pennsylvania Trust Co raised its position in shares of Illinois Tool Works by 0.5% in the first quarter. Pennsylvania Trust Co now owns 9,320 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 50 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Illinois Tool Works by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 4,003 shares of the industrial products company’s stock worth $522,000 after buying an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Inc. (ITW) opened at 135.67 on Friday. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The firm has a market capitalization of $46.69 billion, a price-to-earnings ratio of 21.95 and a beta of 1.11. The company’s 50-day moving average is $142.53 and its 200-day moving average is $137.77.

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 firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.30%. Illinois Tool Works’s payout ratio is 42.07%.

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A number of equities analysts have recently issued reports 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 objective on the stock 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 note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and raised their target price for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “buy” rating and set a $155.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, May 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $151.08.

In other news, insider John R. Hartnett sold 11,750 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the transaction, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the transaction, the chief financial officer now owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,664 shares of company stock valued at $14,329,625. Corporate insiders own 0.90% of the company’s stock.

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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