Illinois Tool Works Inc. (NYSE:ITW) insider Michael R. Zimmerman sold 9,238 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $123.63, for a total transaction of $1,142,093.94. Following the completion of the sale, the insider now directly owns 11,016 shares of the company’s stock, valued at $1,361,908.08. The transaction was disclosed in a filing with the SEC, which is available at this link.

Illinois Tool Works Inc. (NYSE:ITW) traded up 0.40% during mid-day trading on Thursday, reaching $124.94. The company’s stock had a trading volume of 1,172,732 shares. The stock has a market cap of $43.85 billion, a price-to-earnings ratio of 22.81 and a beta of 1.06. Illinois Tool Works Inc. has a 12-month low of $79.15 and a 12-month high of $125.24. The firm’s 50 day moving average price is $117.74 and its 200 day moving average price is $113.57.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, October 20th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The business earned $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post $5.63 earnings per share for the current year.

Insider Buying and Selling by Quarter for Illinois Tool Works (NYSE:ITW)

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, December 30th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.45%.

Several hedge funds have recently bought and sold shares of ITW. Northern Trust Corp boosted its stake in Illinois Tool Works by 0.4% in the third quarter. Northern Trust Corp now owns 34,111,354 shares of the company’s stock worth $4,087,905,000 after buying an additional 121,298 shares during the period. Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 1.4% in the second quarter. Vanguard Group Inc. now owns 21,049,488 shares of the company’s stock valued at $2,192,515,000 after buying an additional 287,704 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Illinois Tool Works by 2.1% in the third quarter. Wells Fargo & Company MN now owns 8,220,678 shares of the company’s stock valued at $985,166,000 after buying an additional 170,277 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Illinois Tool Works by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,507,512 shares of the company’s stock valued at $677,823,000 after buying an additional 207,550 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Illinois Tool Works by 2.3% in the third quarter. BlackRock Fund Advisors now owns 3,742,998 shares of the company’s stock valued at $448,561,000 after buying an additional 84,841 shares during the last quarter. Institutional investors and hedge funds own 75.34% of the company’s stock.

ITW has been the subject of several analyst reports. Goldman Sachs Group Inc. lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 target price for the company. in a report on Monday. They noted that the move was a valuation call. Jefferies Group increased their target price on shares of Illinois Tool Works from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Friday, September 16th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $102.00 price target on shares of Illinois Tool Works in a research note on Thursday, August 25th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $111.07.

WARNING: This article was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/24/illinois-tool-works-inc-itw-insider-michael-r-zimmerman-sells-9238-shares.html.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

5 Day Chart for NYSE:ITW

Receive News & Stock Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related stocks with our FREE daily email newsletter.