First American Bank held its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,101 shares of the industrial products company’s stock at the end of the second quarter. First American Bank’s holdings in Illinois Tool Works were worth $3,453,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Mycio Wealth Partners LLC boosted its stake in Illinois Tool Works by 3.5% in the first quarter. Mycio Wealth Partners LLC now owns 2,662 shares of the industrial products company’s stock worth $353,000 after buying an additional 89 shares during the last quarter. Foster & Motley Inc. raised its position in shares of Illinois Tool Works by 4.8% in the first quarter. Foster & Motley Inc. now owns 6,483 shares of the industrial products company’s stock worth $859,000 after buying an additional 294 shares during the last quarter. OLD Dominion Capital Management Inc. bought a new position in shares of Illinois Tool Works during the first quarter worth about $625,000. First Manhattan Co. raised its position in shares of Illinois Tool Works by 1.7% in the first quarter. First Manhattan Co. now owns 48,785 shares of the industrial products company’s stock worth $5,847,000 after buying an additional 807 shares during the last quarter. Finally, Personal Capital Advisors Corp bought a new position in shares of Illinois Tool Works during the first quarter worth about $17,740,000. 74.82% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (ITW) traded down 0.286% on Monday, reaching $136.419. 126,856 shares of the company’s stock were exchanged. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm’s 50 day moving average is $141.50 and its 200 day moving average is $138.11. The stock has a market capitalization of $46.95 billion, a P/E ratio of 22.074 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the company earned $1.46 earnings per share. Illinois Tool Works’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

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A number of brokerages have issued reports on ITW. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Stifel Nicolaus reissued a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. BMO Capital Markets reissued a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Illinois Tool Works in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $150.64.

In other news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction on 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 transaction, the insider now owns 55,878 shares in the company, valued at approximately $8,046,432. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction on 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 transaction, the insider now owns 23,839 shares in the company, valued at approximately $3,455,701.44. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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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