Boston Common Asset Management LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.5% during the first quarter, Holdings Channel reports. The institutional investor owned 12,519 shares of the industrial products company’s stock after selling 1,948 shares during the period. Boston Common Asset Management LLC’s holdings in Illinois Tool Works were worth $1,658,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hudock Capital Group LLC increased its position in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares during the last quarter. Trust Co. of Virginia VA increased its position in Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after buying an additional 15 shares during the last quarter. Marietta Wealth Management LLC increased its position in Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after buying an additional 26 shares during the last quarter. Buckingham Asset Management LLC increased its position in Illinois Tool Works by 1.6% in the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock valued at $238,000 after buying an additional 29 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its position in Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock valued at $184,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded up 0.26% on Tuesday, reaching $139.41. The company had a trading volume of 171,958 shares. The company has a market capitalization of $47.98 billion, a PE ratio of 22.56 and a beta of 1.11. The company’s 50-day moving average is $143.15 and its 200-day moving average is $137.64. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.24%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is 42.07%.

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A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Citigroup Inc. increased their price target on Illinois Tool Works from $143.00 to $161.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Barclays PLC increased their price target on Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets reissued a “buy” rating and set a $145.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $152.67.

In other news, CFO Michael M. Larsen sold 52,447 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the completion of the transaction, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the transaction, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,664 shares of company stock valued at $14,329,625. Insiders own 0.90% of the company’s stock.

About Illinois Tool Works

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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