M&T Bank Corp decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,349 shares of the industrial products company’s stock after selling 3,683 shares during the period. M&T Bank Corp’s holdings in Illinois Tool Works were worth $10,513,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ITW. Wells Fargo & Company MN boosted its position in shares of Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock valued at $603,315,000 after buying an additional 67,451 shares during the period. Norges Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $491,423,000. Swiss National Bank boosted its position in shares of Illinois Tool Works by 25.6% in the first quarter. Swiss National Bank now owns 1,119,306 shares of the industrial products company’s stock valued at $148,274,000 after buying an additional 228,400 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Illinois Tool Works by 24.6% in the first quarter. UBS Asset Management Americas Inc. now owns 999,969 shares of the industrial products company’s stock valued at $132,466,000 after buying an additional 197,130 shares during the period. 74.77% of the stock is owned by institutional investors.

Shares of Illinois Tool Works Inc. (NYSE ITW) traded down 0.23% on Tuesday, hitting $141.34. 1,009,569 shares of the company were exchanged. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29. The firm has a market cap of $48.72 billion, a P/E ratio of 22.87 and a beta of 1.11. The company has a 50-day moving average price of $144.54 and a 200 day moving average price of $136.84.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. Analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current fiscal year.

The firm 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 $0.78 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.12 annualized dividend and a yield of 2.21%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/08/illinois-tool-works-inc-nyseitw-position-decreased-by-mt-bank-corp-updated-updated-updated.html.

Several analysts recently commented on ITW shares. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC restated a “buy” rating and set a $155.00 price target (up previously from $145.00) on shares of Illinois Tool Works in a research report on Tuesday, April 11th. Credit Suisse Group set a $135.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, April 12th. Barclays PLC lifted their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $145.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $152.67.

In other news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernest Scott Santi sold 101,297 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the sale, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at approximately $26,383,330.26. The disclosure for this sale can be found here. Insiders sold 201,961 shares of company stock worth $28,311,650 in the last 90 days. 0.90% of the stock is currently owned by insiders.

About Illinois Tool Works

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.

Institutional Ownership by Quarter for Illinois Tool Works (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.