Hills Bank & Trust Co. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,121 shares of the industrial products company’s stock after selling 1,222 shares during the period. Illinois Tool Works accounts for about 2.0% of Hills Bank & Trust Co.’s portfolio, making the stock its 8th largest position. Hills Bank & Trust Co.’s holdings in Illinois Tool Works were worth $6,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ITW. FCM Investments TX acquired a new position in shares of Illinois Tool Works during the first quarter valued at $106,000. MCF Advisors LLC raised its position in shares of Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares during the last quarter. TrimTabs Asset Management LLC raised its position in shares of Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after buying an additional 416 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Illinois Tool Works during the first quarter valued at $132,000. Finally, Hudock Capital Group LLC raised its position in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (ITW) traded up 0.15% during midday trading on Friday, hitting $137.72. 706,658 shares of the stock traded hands. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The stock has a 50 day moving average of $140.29 and a 200 day moving average of $138.44. The company has a market capitalization of $47.40 billion, a P/E ratio of 22.28 and a beta of 1.11.

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, topping the consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The firm also recently disclosed 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. The ex-dividend date is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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Several brokerages recently weighed in on ITW. Morgan Stanley reaffirmed an “equal weight” rating and set a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $155.00 price target on shares of Illinois Tool Works in a research report on Tuesday, May 16th. Finally, J P Morgan Chase & Co lowered shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $141.00 to $132.00 in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $150.64.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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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