State Street Corp decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 14,541,756 shares of the industrial products company’s stock after selling 223,406 shares during the period. State Street Corp’s holdings in Illinois Tool Works were worth $1,926,338,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. FCM Investments TX purchased a new position in Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC boosted its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares during the period. TrimTabs Asset Management LLC boosted its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares during the period. Hudock Capital Group LLC boosted 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 worth $139,000 after buying an additional 6 shares during the period. Finally, Baystate Wealth Management LLC boosted its position in Illinois Tool Works by 23.3% in the first quarter. Baystate Wealth Management LLC now owns 1,391 shares of the industrial products company’s stock worth $182,000 after buying an additional 263 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Illinois Tool Works Inc. (NYSE ITW) traded up 0.607% during trading on Friday, hitting $138.305. 271,816 shares of the stock were exchanged. The firm has a market cap of $47.60 billion, a PE ratio of 22.379 and a beta of 1.11. The firm’s 50-day moving average is $143.57 and its 200 day moving average is $137.32. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29.

Illinois Tool Works (NYSE:ITW) last released 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. 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 period in the previous year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a dividend of $0.78 per share. 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. This represents a $3.12 annualized dividend and a yield of 2.27%. Illinois Tool Works’s payout ratio is 42.07%.

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ITW has been the subject of a number of research reports. BMO Capital Markets reiterated a “buy” rating and set a $145.00 target price on shares of Illinois Tool Works in a report on Thursday, April 20th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) upgraded Illinois Tool Works from a “sell” rating to a “buy” rating and increased their target price for the stock from $131.00 to $155.00 in a report on Thursday, June 1st. Jefferies Group LLC reiterated a “buy” rating and set a $155.00 target price on shares of Illinois Tool Works in a report on Tuesday, May 16th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $160.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $152.67.

In related news, CFO Michael M. Larsen sold 52,447 shares of the business’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 transaction, the chief financial officer now directly owns 67,383 shares in the company, valued at $9,475,397.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,664 shares of company stock worth $14,329,625. 0.90% of the stock is owned by corporate insiders.

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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