Nippon Life Insurance Co. Has $3.96 Million Holdings in Illinois Tool Works Inc. (ITW)

Nippon Life Insurance Co. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 69.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,667 shares of the industrial products company’s stock after purchasing an additional 11,368 shares during the period. Nippon Life Insurance Co.’s holdings in Illinois Tool Works were worth $3,963,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Illinois Tool Works by 1,661.3% during the 1st quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after purchasing an additional 18,221,359 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Illinois Tool Works by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock worth $603,315,000 after purchasing an additional 67,451 shares during the last quarter. FMR LLC boosted its stake in shares of Illinois Tool Works by 0.7% during the 1st quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock worth $456,912,000 after purchasing an additional 23,205 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Illinois Tool Works by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after purchasing an additional 203,294 shares during the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of Illinois Tool Works by 19.5% during the 1st quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock worth $390,967,000 after purchasing an additional 482,027 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Illinois Tool Works Inc. (NYSE ITW) opened at 147.40 on Friday. The company has a 50-day moving average of $139.67 and a 200 day moving average of $139.40. The stock has a market cap of $50.73 billion, a price-to-earnings ratio of 23.85 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post $6.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be paid a $0.78 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.12%. Illinois Tool Works’s payout ratio is presently 42.07%.

ITW has been the topic of several research analyst reports. Stifel Nicolaus reissued a “hold” rating and issued a $147.00 target price on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Royal Bank Of Canada raised their target price on shares of Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $150.64.

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.

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

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