Elkhorn Investments LLC Sells 720 Shares of Illinois Tool Works Inc. (ITW)

Elkhorn Investments LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,974 shares of the industrial products company’s stock after selling 720 shares during the quarter. Elkhorn Investments LLC’s holdings in Illinois Tool Works were worth $1,282,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITW. BlackRock Inc. increased its holdings in shares of Illinois Tool Works by 1,661.3% during the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after purchasing an additional 18,221,359 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Illinois Tool Works by 116.7% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,032,408 shares of the industrial products company’s stock valued at $147,892,000 after purchasing an additional 555,923 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Illinois Tool Works by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock valued at $3,241,417,000 after purchasing an additional 500,583 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Illinois Tool Works by 13,930.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 498,940 shares of the industrial products company’s stock valued at $3,483,000 after purchasing an additional 495,384 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of Illinois Tool Works by 19.5% during the 1st quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after purchasing an additional 482,027 shares in the last quarter. 74.73% of the stock is owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $170.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Morgan Stanley reissued an “equal weight” rating and issued a $147.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $143.00 price target on shares of Illinois Tool Works in a research note on Friday. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $170.00 price target (up previously from $155.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $153.87.

Shares of Illinois Tool Works Inc. (ITW) opened at 155.51 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $157.28. The firm’s 50-day moving average is $148.07 and its 200 day moving average is $142.44. The firm has a market cap of $53.52 billion, a PE ratio of 25.16 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

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

Illinois Tool Works 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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