Miller Investment Management LP Has $1,528,000 Holdings in Illinois Tool Works Inc. (ITW)

Miller Investment Management LP continued to hold its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,665 shares of the industrial products company’s stock at the end of the 2nd quarter. Illinois Tool Works comprises 0.5% of Miller Investment Management LP’s portfolio, making the stock its 27th biggest holding. Miller Investment Management LP’s holdings in Illinois Tool Works were worth $1,528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hudock Capital Group LLC grew its holdings in shares of Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 5 shares during the period. Washington Trust Bank grew its holdings in shares of Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 11 shares during the period. Trust Co. of Virginia VA grew its holdings in shares of Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock worth $512,000 after acquiring an additional 15 shares during the period. Sullivan Bruyette Speros & Blaney LLC grew its holdings in shares of Illinois Tool Works by 1.1% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,102 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 22 shares during the period. Finally, Argent Trust Co grew its holdings in shares of Illinois Tool Works by 1.0% in the second quarter. Argent Trust Co now owns 2,215 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 23 shares during the period. 74.79% of the stock is owned by institutional investors.

ITW has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 20th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday, July 25th. BidaskClub lowered Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Illinois Tool Works in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $152.71.

In other news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

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Shares of Illinois Tool Works Inc. (ITW) opened at 151.62 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $152.62. The firm’s 50-day moving average price is $143.80 and its 200 day moving average price is $141.03. The company has a market cap of $52.18 billion, a price-to-earnings ratio of 24.53 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. On average, analysts predict that Illinois Tool Works Inc. will post $6.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a dividend of $0.78 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.06%. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 50.49%.

Illinois Tool Works 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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