PNC Financial Services Group Inc. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,893,727 shares of the company’s stock after selling 81,990 shares during the period. PNC Financial Services Group Inc. owned about 0.54% of Illinois Tool Works worth $226,945,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ITW. PGGM Investments boosted its stake in Illinois Tool Works by 10.0% in the second quarter. PGGM Investments now owns 293,306 shares of the company’s stock valued at $30,551,000 after buying an additional 26,733 shares in the last quarter. British Airways Pensions Investment Management Ltd boosted its stake in Illinois Tool Works by 20.2% in the second quarter. British Airways Pensions Investment Management Ltd now owns 349,270 shares of the company’s stock valued at $36,524,000 after buying an additional 58,630 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Illinois Tool Works by 2.1% in the second quarter. Wetherby Asset Management Inc. now owns 9,102 shares of the company’s stock valued at $949,000 after buying an additional 186 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in Illinois Tool Works by 1.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 535,509 shares of the company’s stock valued at $55,779,000 after buying an additional 8,902 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Illinois Tool Works by 1.1% in the second quarter. Confluence Investment Management LLC now owns 294,246 shares of the company’s stock valued at $30,649,000 after buying an additional 3,141 shares in the last quarter. 74.51% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Illinois Tool Works Inc. (NYSE:ITW) opened at 124.87 on Tuesday. The company has a 50-day moving average of $118.09 and a 200-day moving average of $114.00. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 22.80 and a beta of 1.06. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $125.77.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The firm earned $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Illinois Tool Works had a net margin of 14.68% and a return on equity of 39.18%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post $5.63 earnings per share for the current fiscal year.

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 issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 47.45%.

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ITW has been the topic of several research reports. Goldman Sachs Group Inc. cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective on the stock. in a research report on Monday, November 21st. They noted that the move was a valuation call. Jefferies Group boosted their price objective on shares of Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research 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 price target on the stock in a research report on Friday, September 16th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $102.00 price target on shares of Illinois Tool Works in a research report on Thursday, August 25th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.07.

In other news, insider Sundaram Nagarajan sold 34,299 shares of Illinois Tool Works stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $122.62, for a total transaction of $4,205,743.38. Following the completion of the transaction, the insider now directly owns 54,516 shares in the company, valued at $6,684,751.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay L. Henderson purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The shares were purchased at an average cost of $111.94 per share, for a total transaction of $447,760.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $447,760. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.

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

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