Railway Pension Investments Ltd Acquires 15,200 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Railway Pension Investments Ltd raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 14.5% during the first quarter, HoldingsChannel reports. The fund owned 120,063 shares of the industrial products company’s stock after purchasing an additional 15,200 shares during the quarter. Railway Pension Investments Ltd’s holdings in Illinois Tool Works were worth $25,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Norges Bank purchased a new position in Illinois Tool Works in the fourth quarter worth $744,840,000. BlackRock Inc. grew its position in Illinois Tool Works by 6.6% in the fourth quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company’s stock worth $5,316,074,000 after acquiring an additional 1,340,520 shares in the last quarter. State Street Corp grew its position in Illinois Tool Works by 1.6% in the fourth quarter. State Street Corp now owns 13,032,994 shares of the industrial products company’s stock worth $3,232,221,000 after acquiring an additional 210,839 shares in the last quarter. Geode Capital Management LLC grew its position in Illinois Tool Works by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,048,788 shares of the industrial products company’s stock worth $1,242,988,000 after acquiring an additional 104,469 shares in the last quarter. Finally, Yousif Capital Management LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $19,391,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.

In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total transaction of $205,340.00. Following the completion of the sale, the executive vice president now owns 7,803 shares of the company’s stock, valued at $1,602,268.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Illinois Tool Works stock traded down $5.34 during mid-day trading on Tuesday, reaching $177.55. 13,502 shares of the stock traded hands, compared to its average volume of 1,046,574. The stock has a market capitalization of $55.30 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.73 and a quick ratio of 1.24. Illinois Tool Works Inc. has a 12-month low of $177.33 and a 12-month high of $249.81. The business’s 50-day moving average is $197.93 and its 200-day moving average is $213.56.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.34%.

Several brokerages have recently commented on ITW. UBS Group lowered their price objective on shares of Illinois Tool Works to $243.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Credit Suisse Group decreased their price target on shares of Illinois Tool Works from $267.00 to $261.00 in a research note on Wednesday, May 4th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $207.00 to $185.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 29th. Barclays decreased their price target on shares of Illinois Tool Works from $192.00 to $180.00 and set an “underweight” rating for the company in a research note on Tuesday, May 24th. Finally, Morgan Stanley decreased their price target on shares of Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating for the company in a research note on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $227.09.

About Illinois Tool Works (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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