Smithfield Trust Co. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,250 shares of the industrial products company’s stock after buying an additional 500 shares during the period. Smithfield Trust Co.’s holdings in Illinois Tool Works were worth $1,073,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT lifted its holdings in Illinois Tool Works by 8.4% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 8,915 shares of the industrial products company’s stock valued at $1,319,000 after buying an additional 690 shares during the period. Telemus Capital LLC lifted its holdings in Illinois Tool Works by 37.6% in the third quarter. Telemus Capital LLC now owns 2,054 shares of the industrial products company’s stock valued at $304,000 after buying an additional 561 shares during the period. Swiss National Bank lifted its holdings in Illinois Tool Works by 0.6% in the third quarter. Swiss National Bank now owns 1,146,406 shares of the industrial products company’s stock valued at $169,622,000 after buying an additional 6,800 shares during the period. Jaffetilchin Investment Partners LLC lifted its holdings in Illinois Tool Works by 31.3% in the third quarter. Jaffetilchin Investment Partners LLC now owns 1,872 shares of the industrial products company’s stock valued at $277,000 after buying an additional 446 shares during the period. Finally, Fiduciary Trust Co. lifted its holdings in Illinois Tool Works by 0.6% in the third quarter. Fiduciary Trust Co. now owns 138,789 shares of the industrial products company’s stock valued at $20,535,000 after buying an additional 829 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.

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In related news, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the sale, the insider now directly owns 95,328 shares in the company, valued at approximately $14,984,608.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Norman D. Jr. Finch purchased 4,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the purchase, the vice president now directly owns 4,371 shares in the company, valued at approximately $683,362.14. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 126,506 shares of company stock worth $19,801,832. Corporate insiders own 0.90% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $157.14 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The stock has a market cap of $53,836.01, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Illinois Tool Works Inc. has a 52-week low of $120.06 and a 52-week high of $159.36.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. equities analysts predict that Illinois Tool Works Inc. will post 6.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.

Several equities analysts recently issued reports on ITW shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $155.00 target price (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Argus reaffirmed a “buy” rating and issued a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. J P Morgan Chase & Co raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $132.00 to $140.00 in a research note on Tuesday, October 10th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $157.27.

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.

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

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