D.A. Davidson & CO. lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,878 shares of the industrial products company’s stock after selling 1,502 shares during the quarter. D.A. Davidson & CO.’s holdings in Illinois Tool Works were worth $3,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Omnia Family Wealth LLC lifted its position in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares in the last quarter. Hudock Capital Group LLC lifted its position in Illinois Tool Works by 0.5% during the second quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock worth $151,000 after buying an additional 5 shares in the last quarter. Washington Trust Bank lifted its position in Illinois Tool Works by 1.1% during the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Illinois Tool Works by 0.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 4,195 shares of the industrial products company’s stock worth $600,000 after buying an additional 20 shares in the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC lifted its position in Illinois Tool Works by 1.1% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,102 shares of the industrial products company’s stock worth $301,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

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Shares of Illinois Tool Works Inc. (ITW) opened at 155.03 on Friday. The firm has a 50-day moving average price of $147.56 and a 200-day moving average price of $142.11. The stock has a market cap of $53.35 billion, a P/E ratio of 25.09 and a beta of 1.12. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $155.12.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio is currently 50.49%.

ITW has been the topic of a number of analyst reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $171.00 price objective (up previously from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company set a $170.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $153.87.

Illinois Tool Works Company 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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