Pillar Pacific Capital Management LLC Trims Position in Illinois Tool Works Inc. (ITW)

Pillar Pacific Capital Management LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,131 shares of the industrial products company’s stock after selling 560 shares during the period. Illinois Tool Works makes up about 1.0% of Pillar Pacific Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Pillar Pacific Capital Management LLC’s holdings in Illinois Tool Works were worth $8,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. BlackRock Inc. increased its position in Illinois Tool Works by 1,661.3% during the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after acquiring an additional 18,221,359 shares during the last quarter. Janus Henderson Group PLC increased its position in Illinois Tool Works by 2,939.8% during the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after acquiring an additional 3,628,722 shares during the last quarter. Koch Industries Inc. increased its position in Illinois Tool Works by 31,484.3% during the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock valued at $763,000 after acquiring an additional 765,699 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Illinois Tool Works by 100.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after acquiring an additional 707,287 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in Illinois Tool Works by 116.7% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,032,408 shares of the industrial products company’s stock valued at $147,892,000 after acquiring an additional 555,923 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

A number of brokerages have recently issued reports on ITW. Argus reissued a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. BidaskClub lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $136.00 price objective (down from $140.00) on shares of Illinois Tool Works in a research note on Tuesday, July 25th. Credit Suisse Group lowered their price objective on shares of Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $155.00 price objective (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $157.27.

In other news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the transaction, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,506 shares of company stock valued at $19,801,832. Insiders own 0.90% of the company’s stock.

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Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $158.54 on Wednesday. The company has a market cap of $53,997.03, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a 1 year low of $120.06 and a 1 year high of $159.36. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. equities research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.

About Illinois Tool Works

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.

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

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