Greenleaf Trust lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 31.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,919 shares of the industrial products company’s stock after selling 888 shares during the period. Greenleaf Trust’s holdings in Illinois Tool Works were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock worth $2,559,083,000 after buying an additional 18,221,359 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock worth $1,179,646,000 after buying an additional 308,538 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock worth $603,315,000 after buying an additional 67,451 shares in the last quarter. FMR LLC boosted its position in shares of Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock worth $456,912,000 after buying an additional 23,205 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock worth $408,069,000 after buying an additional 203,294 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Inc. (NYSE ITW) traded up 0.65% during midday trading on Friday, reaching $138.36. 964,291 shares of the company traded hands. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29. The stock has a market capitalization of $47.62 billion, a P/E ratio of 22.39 and a beta of 1.11. The company has a 50 day moving average of $143.35 and a 200-day moving average of $137.43.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.25%. 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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ITW has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on shares of Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 25th. Argus lifted their price target on shares of Illinois Tool Works from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and set a $144.00 price target (up from $140.00) on shares of Illinois Tool Works in a research report on Tuesday, April 25th. Finally, Barclays PLC lifted their price target on shares of Illinois Tool Works from $130.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $152.67.

In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the firm’s 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 sale, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the completion of the sale, the chief financial officer now owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders sold 100,664 shares of company stock valued at $14,329,625 over the last 90 days. Corporate 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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