Bahl & Gaynor Inc. Purchases 168,499 Shares of Illinois Tool Works Inc. (ITW)

Bahl & Gaynor Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 27.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 774,354 shares of the industrial products company’s stock after buying an additional 168,499 shares during the period. Bahl & Gaynor Inc. owned about 0.23% of Illinois Tool Works worth $94,827,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. KCM Investment Advisors LLC boosted its position in Illinois Tool Works by 5.2% in the 2nd quarter. KCM Investment Advisors LLC now owns 9,335 shares of the industrial products company’s stock valued at $1,337,000 after buying an additional 465 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Illinois Tool Works by 0.5% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,195 shares of the industrial products company’s stock valued at $600,000 after buying an additional 20 shares during the last quarter. Captrust Financial Advisors bought a new position in Illinois Tool Works in the 2nd quarter valued at $202,000. Norinchukin Bank The boosted its position in Illinois Tool Works by 12.8% in the 2nd quarter. Norinchukin Bank The now owns 123,563 shares of the industrial products company’s stock valued at $17,701,000 after buying an additional 14,040 shares during the last quarter. Finally, Dorsey Wright & Associates boosted its position in Illinois Tool Works by 1.4% in the 2nd quarter. Dorsey Wright & Associates now owns 10,187 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 74.76% of the company’s stock.

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In related news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

A number of research analysts have commented on the company. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company set a $170.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $153.87.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 153.41 on Tuesday. The firm has a market cap of $52.80 billion, a P/E ratio of 24.82 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $154.38. The company’s 50-day moving average price is $145.40 and its 200 day moving average price is $141.47.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-div

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. KCM Investment Advisors LLC boosted its position in Illinois Tool Works by 5.2% in the 2nd quarter. KCM Investment Advisors LLC now owns 9,335 shares of the industrial products company’s stock valued at $1,337,000 after buying an additional 465 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Illinois Tool Works by 0.5% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,195 shares of the industrial products company’s stock valued at $600,000 after buying an additional 20 shares during the last quarter. Captrust Financial Advisors bought a new position in Illinois Tool Works in the 2nd quarter valued at $202,000. Norinchukin Bank The boosted its position in Illinois Tool Works by 12.8% in the 2nd quarter. Norinchukin Bank The now owns 123,563 shares of the industrial products company’s stock valued at $17,701,000 after buying an additional 14,040 shares during the last quarter. Finally, Dorsey Wright & Associates boosted its position in Illinois Tool Works by 1.4% in the 2nd quarter. Dorsey Wright & Associates now owns 10,187 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 74.76% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This story was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/17/bahl-gaynor-inc-purchases-168499-shares-of-illinois-tool-works-inc-itw.html.

In related news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

A number of research analysts have commented on the company. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Wells Fargo & Company set a $170.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $153.87.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 153.41 on Tuesday. The firm has a market cap of $52.80 billion, a P/E ratio of 24.82 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $154.38. The company’s 50-day moving average price is $145.40 and its 200 day moving average price is $141.47.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.03%. Illinois Tool Works’s payout ratio is presently 50.49%.

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.

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

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