Psagot Investment House Ltd. Grows Holdings in Illinois Tool Works Inc. (ITW)

Psagot Investment House Ltd. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 146.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,480 shares of the industrial products company’s stock after purchasing an additional 880 shares during the quarter. Psagot Investment House Ltd.’s holdings in Illinois Tool Works were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of Illinois Tool Works by 25.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock valued at $975,518,000 after buying an additional 1,401,794 shares during the period. Bank of America Corp DE raised its position in shares of Illinois Tool Works by 1.6% during the 2nd quarter. Bank of America Corp DE now owns 5,875,087 shares of the industrial products company’s stock valued at $813,935,000 after buying an additional 93,269 shares during the period. Bank of New York Mellon Corp raised its position in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,972,642 shares of the industrial products company’s stock valued at $550,369,000 after buying an additional 44,036 shares during the period. Janus Henderson Group PLC raised its position in shares of Illinois Tool Works by 7.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,774,594 shares of the industrial products company’s stock valued at $522,934,000 after buying an additional 257,819 shares during the period. Finally, OppenheimerFunds Inc. raised its position in shares of Illinois Tool Works by 28.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,584,305 shares of the industrial products company’s stock valued at $219,489,000 after buying an additional 349,717 shares during the period. 76.56% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works stock opened at $133.81 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $119.38 and a fifty-two week high of $179.07. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. The company has a market capitalization of $43.70 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.75 and a beta of 1.26.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $1.71 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 7.6 EPS for the current year.

Illinois Tool Works announced that its board has authorized a stock buyback plan on Friday, August 3rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Monday, December 31st will be issued a $1.00 dividend. The ex-dividend date is Friday, December 28th. This represents a $4.00 annualized dividend and a yield of 2.99%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 60.70%.

Several analysts have recently commented on ITW shares. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Morgan Stanley started coverage on shares of Illinois Tool Works in a research report on Monday, August 20th. They set an “equal weight” rating and a $146.00 price target on the stock. Gordon Haskett started coverage on shares of Illinois Tool Works in a research report on Friday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Co reaffirmed a “buy” rating and set a $150.00 price target (down previously from $160.00) on shares of Illinois Tool Works in a research report on Wednesday, October 17th. Finally, ValuEngine lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $150.18.

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Illinois Tool Works Profile

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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