Meag Munich Ergo Kapitalanlagegesellschaft MBH Sells 11,287 Shares of Illinois Tool Works Inc. (ITW)

Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 22.1% during the second quarter, Holdings Channel reports. The fund owned 39,799 shares of the industrial products company’s stock after selling 11,287 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Illinois Tool Works were worth $5,626,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares during the last quarter. HPM Partners LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $95,987,000. Janus Capital Management LLC increased its stake in shares of Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock valued at $390,967,000 after buying an additional 482,027 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Illinois Tool Works by 58.5% in the first quarter. Prudential Financial Inc. now owns 1,218,246 shares of the industrial products company’s stock valued at $161,380,000 after buying an additional 449,430 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Inc. (NYSE ITW) traded up 0.8275% on Friday, hitting $138.6075. 432,591 shares of the stock were exchanged. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The firm has a market cap of $47.70 billion, a PE ratio of 22.4284 and a beta of 1.11. The stock’s 50 day moving average price is $143.57 and its 200 day moving average price is $137.32.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s payout ratio is 42.07%.

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Several equities research analysts have recently weighed in on ITW shares. Barclays PLC increased their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. BMO Capital Markets reissued a “buy” rating and issued a $145.00 target price on shares of Illinois Tool Works in a research note on Thursday, April 20th. Royal Bank Of Canada increased their target price on shares of Illinois Tool Works from $125.00 to $141.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 25th. Stifel Nicolaus reissued a “hold” rating and issued a $144.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, April 25th. Finally, Citigroup Inc. increased their target price on shares of Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $152.67.

In related news, CFO Michael M. Larsen sold 52,447 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the sale, the chief financial officer now directly owns 67,383 shares in the company, valued at approximately $9,475,397.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,664 shares of company stock worth $14,329,625. 0.90% of the stock is owned by insiders.

Illinois Tool Works Company 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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