Coho Partners Ltd. buys $116.1 Million stake in Illinois Tool Works (ITW)

Illinois Tool Works (ITW) : Coho Partners Ltd. scooped up 39,492 additional shares in Illinois Tool Works during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,126,946 shares of Illinois Tool Works which is valued at $116.1 Million.Illinois Tool Works makes up approximately 4.82% of Coho Partners Ltd.’s portfolio.

Other Hedge Funds, Including , Shinko Asset Management Ltd. reduced its stake in ITW by selling 74 shares or 7.96% in the most recent quarter. The Hedge Fund company now holds 856 shares of ITW which is valued at $88,151.Spot Trading L.l.c reduced its stake in ITW by selling 1,753 shares or 98.93% in the most recent quarter. The Hedge Fund company now holds 19 shares of ITW which is valued at $1,957.Cadinha Co reduced its stake in ITW by selling 4,130 shares or 61.09% in the most recent quarter. The Hedge Fund company now holds 2,630 shares of ITW which is valued at $274,020. Illinois Tool Works makes up approx 0.07% of Cadinha Co’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in ITW in the latest quarter, The investment management firm added 33,553 additional shares and now holds a total of 600,022 shares of Illinois Tool Works which is valued at $62.7 Million. Illinois Tool Works makes up approx 0.51% of Public Employees Retirement Association Of Colorado’s portfolio.Tci Wealth Advisors boosted its stake in ITW in the latest quarter, The investment management firm added 570 additional shares and now holds a total of 8,356 shares of Illinois Tool Works which is valued at $873,369. Illinois Tool Works makes up approx 0.48% of Tci Wealth Advisors’s portfolio.

Illinois Tool Works opened for trading at $103.26 and hit $104.56 on the upside on Monday, eventually ending the session at $104.3, with a gain of 1.28% or 1.32 points. The heightened volatility saw the trading volume jump to 11,92,350 shares. Company has a market cap of $37,482 M.

On the company’s financial health, Illinois Tool Works reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.26. The company had revenue of $3274.00 million for the quarter, compared to analysts expectations of $3252.42 million. The company’s revenue was down -2.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.21 EPS.

Investors should note that on May 6, 2016, Illinois Tool Works announced a cash dividend of $0.5500. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 8, 2016.

Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Company’s operates in seven segments: Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products and Specialty Products. These operations serve end markets as automotive original equipment manufacturers/tiers automotive aftermarket general industrial commercial food equipment and construction. It produces components and fasteners for automotive-related applications; equipment consumables and related software; commercial food equipment adhesives sealants lubrication and cutting fluids; arc welding equipment consumables and accessories; construction fastening systems and truss products and beverage packaging equipment and consumables. The Company operates approximately 90 divisions in 57 countries.

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