San Francisco Sentry Investment Group CA trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 32.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,733 shares of the industrial products company’s stock after selling 6,106 shares during the quarter. Illinois Tool Works comprises about 0.7% of San Francisco Sentry Investment Group CA’s holdings, making the stock its 24th largest position. San Francisco Sentry Investment Group CA’s holdings in Illinois Tool Works were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the stock. Tredje AP fonden boosted its holdings in shares of Illinois Tool Works by 1.1% in the 1st quarter. Tredje AP fonden now owns 32,524 shares of the industrial products company’s stock worth $5,121,000 after purchasing an additional 350 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Illinois Tool Works by 6.3% in the 2nd quarter. North Star Investment Management Corp. now owns 6,085 shares of the industrial products company’s stock valued at $843,000 after acquiring an additional 362 shares during the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Illinois Tool Works by 3.7% in the 1st quarter. KCM Investment Advisors LLC now owns 10,291 shares of the industrial products company’s stock valued at $1,612,000 after acquiring an additional 369 shares during the last quarter. Zeke Capital Advisors LLC lifted its stake in shares of Illinois Tool Works by 6.5% in the 1st quarter. Zeke Capital Advisors LLC now owns 6,073 shares of the industrial products company’s stock valued at $951,000 after acquiring an additional 371 shares during the last quarter. Finally, Parisi Gray Wealth Management lifted its stake in shares of Illinois Tool Works by 88.8% in the 1st quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 372 shares during the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.

A number of equities research analysts have recently weighed in on ITW shares. Stifel Nicolaus lowered their target price on Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating for the company in a research note on Monday, April 16th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 16th. BMO Capital Markets reissued a “hold” rating and issued a $170.00 target price on shares of Illinois Tool Works in a research note on Wednesday, April 18th. ValuEngine lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Finally, Wolfe Research started coverage on Illinois Tool Works in a research note on Wednesday, June 27th. They issued an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Illinois Tool Works has a consensus rating of “Hold” and an average price target of $159.82.

Illinois Tool Works opened at $136.47 on Friday, according to Marketbeat. The company has a market cap of $46.45 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.77 and a beta of 1.25. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.73 and a quick ratio of 1.35. Illinois Tool Works Inc. has a one year low of $134.66 and a one year high of $179.07.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, July 23rd. The industrial products company reported $1.97 EPS for the quarter, meeting analysts’ consensus estimates of $1.97. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.85 billion. Illinois Tool Works had a return on equity of 56.74% and a net margin of 12.70%. Illinois Tool Works’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.69 EPS. equities research analysts forecast that Illinois Tool Works Inc. will post 7.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Friday, September 28th will be given a dividend of $1.00 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. Illinois Tool Works’s dividend payout ratio is presently 47.34%.

Illinois Tool Works declared that its board has approved a share repurchase plan on Friday, August 3rd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Illinois Tool Works news, Director Richard H. Lenny purchased 1,778 shares of the stock in a transaction on Friday, July 27th. The stock was acquired at an average price of $140.85 per share, with a total value of $250,431.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

About Illinois Tool Works

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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