Natixis Acquires 220,855 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Natixis increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10,016.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 223,060 shares of the industrial products company’s stock after acquiring an additional 220,855 shares during the period. Natixis owned about 0.07% of Illinois Tool Works worth $49,867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Leisure Capital Management raised its position in Illinois Tool Works by 0.7% during the 2nd quarter. Leisure Capital Management now owns 5,987 shares of the industrial products company’s stock valued at $1,338,000 after purchasing an additional 44 shares in the last quarter. Clearstead Advisors LLC raised its position in Illinois Tool Works by 0.4% during the 2nd quarter. Clearstead Advisors LLC now owns 12,108 shares of the industrial products company’s stock valued at $2,707,000 after purchasing an additional 45 shares in the last quarter. MV Capital Management Inc. raised its position in Illinois Tool Works by 5.6% during the 2nd quarter. MV Capital Management Inc. now owns 867 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 46 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Illinois Tool Works by 0.7% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,222 shares of the industrial products company’s stock valued at $1,391,000 after purchasing an additional 46 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its position in Illinois Tool Works by 1.1% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,316 shares of the industrial products company’s stock valued at $956,000 after purchasing an additional 48 shares in the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on ITW. Wells Fargo & Company began coverage on Illinois Tool Works in a research report on Thursday, October 7th. They issued an “equal weight” rating and a $219.00 price target for the company. Citigroup boosted their price target on Illinois Tool Works from $252.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, August 2nd. Morgan Stanley reduced their price target on Illinois Tool Works from $208.00 to $198.00 and set an “underweight” rating for the company in a research report on Thursday, October 7th. Credit Suisse Group boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $227.00 to $238.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $226.88.

Shares of ITW opened at $216.81 on Thursday. The company has a market capitalization of $68.29 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.16 and a beta of 1.08. Illinois Tool Works Inc. has a 52 week low of $192.29 and a 52 week high of $242.07. The company has a quick ratio of 1.73, a current ratio of 2.20 and a debt-to-equity ratio of 2.00. The stock’s 50-day moving average price is $222.48 and its 200-day moving average price is $226.21.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 30th. The industrial products company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Illinois Tool Works had a return on equity of 81.66% and a net margin of 19.07%. Illinois Tool Works’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 8.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be issued a $1.22 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, September 29th. This represents a $4.88 dividend on an annualized basis and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio is presently 69.71%.

Illinois Tool Works Company Profile

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

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

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