OPSEU Pension Plan Trust Fund Has $1.52 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

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OPSEU Pension Plan Trust Fund boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,910 shares of the industrial products company’s stock after purchasing an additional 536 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in Illinois Tool Works were worth $1,522,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ITW. BlackRock Inc. grew its holdings in Illinois Tool Works by 3.6% in the 2nd quarter. BlackRock Inc. now owns 22,446,860 shares of the industrial products company’s stock valued at $3,924,836,000 after buying an additional 772,245 shares in the last quarter. First Trust Advisors LP grew its holdings in Illinois Tool Works by 196.3% in the 3rd quarter. First Trust Advisors LP now owns 950,556 shares of the industrial products company’s stock valued at $183,657,000 after buying an additional 629,767 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Illinois Tool Works by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,184,198 shares of the industrial products company’s stock valued at $731,607,000 after buying an additional 438,056 shares in the last quarter. FMR LLC grew its holdings in Illinois Tool Works by 36.5% in the 2nd quarter. FMR LLC now owns 1,602,863 shares of the industrial products company’s stock valued at $280,262,000 after buying an additional 428,601 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Illinois Tool Works by 22.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,971,797 shares of the industrial products company’s stock valued at $344,769,000 after buying an additional 367,413 shares in the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.

A number of brokerages have commented on ITW. BMO Capital Markets upped their price objective on Illinois Tool Works from $205.00 to $225.00 in a report on Monday, October 26th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $175.00 to $212.00 in a report on Thursday, October 29th. Stifel Nicolaus increased their target price on Illinois Tool Works from $194.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 26th. Smith Barney Citigroup increased their target price on Illinois Tool Works from $203.00 to $211.00 in a report on Monday, October 26th. Finally, Morgan Stanley increased their target price on Illinois Tool Works from $167.00 to $176.00 and gave the stock an “underweight” rating in a report on Monday, October 26th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $184.00.

ITW traded down $2.71 during trading on Tuesday, hitting $209.15. 11,160 shares of the company’s stock were exchanged, compared to its average volume of 1,348,552. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. The business’s 50 day moving average is $202.65 and its two-hundred day moving average is $185.86. Illinois Tool Works Inc. has a fifty-two week low of $115.94 and a fifty-two week high of $224.69. The stock has a market cap of $67.06 billion, a P/E ratio of 31.61, a PEG ratio of 4.46 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 23rd. The industrial products company reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.38. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.94 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 earnings per share. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 6.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Thursday, December 31st will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, December 30th. This represents a $4.56 annualized dividend and a yield of 2.18%. Illinois Tool Works’s payout ratio is currently 58.84%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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