M&T Bank Corp increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,104 shares of the company’s stock after buying an additional 3,863 shares during the period. M&T Bank Corp’s holdings in Illinois Tool Works were worth $9,841,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its position in Illinois Tool Works by 8.4% in the first quarter. First Republic Investment Management Inc. now owns 35,944 shares of the company’s stock valued at $3,682,000 after buying an additional 2,781 shares during the period. BlueMountain Capital Management LLC increased its position in Illinois Tool Works by 126.9% in the first quarter. BlueMountain Capital Management LLC now owns 4,534 shares of the company’s stock valued at $464,000 after buying an additional 2,536 shares during the period. Stock Yards Bank & Trust Co. increased its position in Illinois Tool Works by 34.5% in the second quarter. Stock Yards Bank & Trust Co. now owns 15,081 shares of the company’s stock valued at $1,571,000 after buying an additional 3,872 shares during the period. Indiana Trust & Investment Management CO increased its position in Illinois Tool Works by 1.9% in the second quarter. Indiana Trust & Investment Management CO now owns 2,691 shares of the company’s stock valued at $280,000 after buying an additional 49 shares during the period. Finally, Washington Trust Bank increased its position in Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock valued at $145,000 after buying an additional 25 shares during the period. 74.51% of the stock is owned by institutional investors.

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

Illinois Tool Works Inc. (NYSE:ITW) traded up 0.27% during mid-day trading on Wednesday, hitting $125.95. 1,062,007 shares of the stock were exchanged. The stock has a market capitalization of $44.21 billion, a PE ratio of 23.00 and a beta of 1.06. The company has a 50-day moving average of $118.09 and a 200-day moving average of $114.00. Illinois Tool Works Inc. has a 52 week low of $79.15 and a 52 week high of $127.61.

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

The firm also recently announced 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 2.07%. The ex-dividend date is Wednesday, December 28th. Illinois Tool Works’s payout ratio is 47.45%.

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ITW has been the subject of several analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a report on Thursday, August 25th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Jefferies Group raised their price objective 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. Finally, Goldman Sachs Group Inc. downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective for the company. in a report on Monday, November 21st. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $111.07.

In other news, insider Sundaram Nagarajan sold 4,560 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total transaction of $544,920.00. Following the transaction, the insider now owns 24,777 shares of the company’s stock, valued at approximately $2,960,851.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael R. Zimmerman sold 9,238 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $123.63, for a total transaction of $1,142,093.94. Following the transaction, the insider now directly owns 11,016 shares in the company, valued at approximately $1,361,908.08. The disclosure for this sale 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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