Illinois Tool Works Inc. (ITW) Holdings Boosted by OLD National Bancorp IN

OLD National Bancorp IN boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,628 shares of the industrial products company’s stock after buying an additional 530 shares during the quarter. OLD National Bancorp IN’s holdings in Illinois Tool Works were worth $1,129,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ITW. Prudential Financial Inc. lifted its holdings in Illinois Tool Works by 58.5% in the 1st quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock worth $161,380,000 after buying an additional 449,430 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Illinois Tool Works by 14.5% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 61,430 shares of the industrial products company’s stock worth $8,138,000 after purchasing an additional 7,796 shares in the last quarter. Stifel Financial Corp increased its position in shares of Illinois Tool Works by 1.8% during the 1st quarter. Stifel Financial Corp now owns 361,459 shares of the industrial products company’s stock worth $47,911,000 after purchasing an additional 6,557 shares in the last quarter. Wayne Hummer Investments L.L.C. increased its position in shares of Illinois Tool Works by 75.9% during the 1st quarter. Wayne Hummer Investments L.L.C. now owns 10,819 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 4,669 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Illinois Tool Works by 16.6% during the 1st quarter. Victory Capital Management Inc. now owns 19,757 shares of the industrial products company’s stock worth $2,617,000 after purchasing an additional 2,812 shares in the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at $157.14 on Monday. The stock has a market cap of $53,836.01, a PE ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works Inc. has a one year low of $120.06 and a one year high of $159.36.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the 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 net margin of 16.12% and a return on equity of 47.21%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. sell-side analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.

ITW has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. BMO Capital Markets reiterated a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Citigroup Inc. restated a “buy” rating and issued a $162.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company set a $170.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $157.27.

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In other news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total transaction of $7,620,526.06. Following the completion of the transaction, the executive vice president now directly owns 71,101 shares in the company, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock worth $19,801,832 in the last ninety days. Insiders own 0.90% of the company’s stock.

About Illinois Tool Works

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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