Greylin Investment Mangement Inc. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 34.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,350 shares of the industrial products company’s stock after selling 1,775 shares during the period. Greylin Investment Mangement Inc.’s holdings in Illinois Tool Works were worth $480,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ITW. Berkshire Asset Management LLC PA raised its stake in shares of Illinois Tool Works by 1.3% in the second quarter. Berkshire Asset Management LLC PA now owns 12,726 shares of the industrial products company’s stock valued at $1,823,000 after buying an additional 160 shares in the last quarter. Roof Eidam & Maycock ADV acquired a new position in Illinois Tool Works during the second quarter worth approximately $1,306,000. First Citizens Bank & Trust Co. acquired a new position in Illinois Tool Works during the second quarter worth approximately $1,983,000. Huntington National Bank raised its position in Illinois Tool Works by 2.1% in the second quarter. Huntington National Bank now owns 311,353 shares of the industrial products company’s stock worth $44,601,000 after buying an additional 6,470 shares in the last quarter. Finally, Hermes Investment Management Ltd. acquired a new position in Illinois Tool Works during the second quarter worth approximately $1,071,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Shares of Illinois Tool Works Inc. (ITW) traded up 0.82% during mid-day trading on Monday, hitting $139.49. 246,375 shares of the stock traded hands. The stock has a market cap of $48.01 billion, a P/E ratio of 22.57 and a beta of 1.11. The firm’s 50 day moving average price is $143.35 and its 200-day moving average price is $137.43. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $150.29.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. 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. Investors 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 dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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A number of research analysts have commented on ITW shares. BMO Capital Markets restated a “buy” rating and issued a $145.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 20th. BidaskClub lowered shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Jefferies Group LLC restated a “buy” rating and issued a $155.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, May 16th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $152.67.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction dated 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 directly owns 67,383 shares in the company, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,664 shares of company stock worth $14,329,625. 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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