Norinchukin Bank The Has $26.92 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Norinchukin Bank The lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 22.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 109,060 shares of the industrial products company’s stock after selling 30,674 shares during the period. Norinchukin Bank The’s holdings in Illinois Tool Works were worth $26,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Ritter Daniher Financial Advisory LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $28,000. Allegheny Financial Group LTD bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $29,000. Amplius Wealth Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $30,000. FSB Premier Wealth Management Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $32,000. Finally, Bell Investment Advisors Inc bought a new position in Illinois Tool Works during the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 79.03% of the company’s stock.

A number of brokerages recently commented on ITW. Morgan Stanley dropped their price target on Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Barclays lowered their price objective on Illinois Tool Works from $200.00 to $192.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Credit Suisse Group reduced their price target on Illinois Tool Works from $267.00 to $261.00 in a report on Wednesday, May 4th. Finally, StockNews.com assumed coverage on Illinois Tool Works in a report on Thursday, March 31st. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $232.64.

NYSE ITW traded up $3.76 during trading hours on Thursday, reaching $207.59. The company’s stock had a trading volume of 1,590,820 shares, compared to its average volume of 1,157,850. The firm’s 50-day moving average price is $206.23 and its 200-day moving average price is $224.42. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1 year low of $195.25 and a 1 year high of $249.81. The company has a market capitalization of $64.65 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.53 and a beta of 1.07.

Illinois Tool Works (NYSE:ITWGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.04. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm earned $2.11 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post 9.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.88 dividend on an annualized basis and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio is presently 57.34%.

Illinois Tool Works Profile (Get Rating)

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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