CHICAGO TRUST Co NA decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,885 shares of the industrial products company’s stock after selling 309 shares during the period. CHICAGO TRUST Co NA’s holdings in Illinois Tool Works were worth $608,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Illinois Tool Works by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock valued at $3,935,459,000 after purchasing an additional 659,248 shares during the last quarter. BlackRock Inc. raised its position in Illinois Tool Works by 3.0% in the 2nd quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock valued at $3,053,058,000 after purchasing an additional 581,489 shares during the last quarter. Bank of America Corp DE raised its position in Illinois Tool Works by 2.6% in the 2nd quarter. Bank of America Corp DE now owns 3,756,360 shares of the industrial products company’s stock valued at $566,496,000 after purchasing an additional 94,434 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Illinois Tool Works by 2.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,401,495 shares of the industrial products company’s stock valued at $362,170,000 after purchasing an additional 65,298 shares during the last quarter. Finally, Invesco Ltd. raised its position in Illinois Tool Works by 179.7% in the 2nd quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock valued at $322,590,000 after purchasing an additional 1,374,150 shares during the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Several analysts recently commented on ITW shares. Northcoast Research downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target for the company. in a research report on Wednesday, June 26th. Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target for the company. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group upped their price target on shares of Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $142.44.

Illinois Tool Works stock traded up $1.79 during trading hours on Wednesday, reaching $148.19. 691,907 shares of the stock were exchanged, compared to its average volume of 1,316,369. The stock has a market cap of $48.59 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.68 and a beta of 1.22. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $161.71. The firm’s 50 day moving average is $152.20 and its 200 day moving average is $150.93.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. Illinois Tool Works’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 7.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.89%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s dividend payout ratio is presently 56.32%.

In other Illinois Tool Works news, EVP Juan Valls sold 64,894 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $160.51, for a total transaction of $10,416,135.94. Following the completion of the transaction, the executive vice president now owns 67,047 shares in the company, valued at approximately $10,761,713.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 35,617 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the transaction, the chief financial officer now owns 38,726 shares of the company’s stock, valued at approximately $6,181,056.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,458 shares of company stock valued at $25,172,163. 0.87% of the stock is owned by insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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