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OLD Republic International Corp Has $39.68 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Illinois Tool Works logo with Industrials background

OLD Republic International Corp cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 19.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,000 shares of the industrial products company's stock after selling 38,500 shares during the quarter. OLD Republic International Corp owned about 0.05% of Illinois Tool Works worth $39,682,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. F M Investments LLC lifted its stake in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after buying an additional 42 shares during the last quarter. Trust Co of the South grew its stake in Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. lifted its position in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after acquiring an additional 44 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after purchasing an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ITW. Citigroup dropped their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group reduced their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Evercore ISI reduced their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $252.83.

Check Out Our Latest Report on Illinois Tool Works

Illinois Tool Works Price Performance

ITW traded up $2.28 on Thursday, reaching $262.03. The stock had a trading volume of 1,097,743 shares, compared to its average volume of 998,504. The firm has a 50-day moving average of $246.68 and a 200-day moving average of $249.52. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market capitalization of $76.77 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 5.46 and a beta of 1.09. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The firm's revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

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

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