Gotham Asset Management LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.1% during the first quarter, Holdings Channel reports. The fund owned 130,437 shares of the industrial products company’s stock after selling 8,508 shares during the period. Gotham Asset Management LLC’s holdings in Illinois Tool Works were worth $17,279,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Hudock Capital Group LLC boosted its position in shares of 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 valued at $139,000 after buying an additional 6 shares during the last quarter. Trust Co. of Virginia VA boosted its position in Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after buying an additional 15 shares in the last quarter. Marietta Wealth Management LLC boosted its position in Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after buying an additional 26 shares in the last quarter. Buckingham Asset Management LLC boosted its position in Illinois Tool Works by 1.6% in the first quarter. Buckingham Asset Management LLC now owns 1,793 shares of the industrial products company’s stock valued at $238,000 after buying an additional 29 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its position in Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock valued at $184,000 after buying an additional 32 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Inc. (NYSE:ITW) traded up 0.65% during midday trading on Friday, hitting $138.36. 964,291 shares of the company were exchanged. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 22.39 and a beta of 1.11. The stock has a 50 day moving average of $143.35 and a 200-day moving average of $137.43.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio is 42.07%.

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Several equities analysts have commented on ITW shares. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $155.00 in a research report on Thursday, June 1st. Morgan Stanley reissued an “equal weight” rating and set a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating and set a $160.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a research report on Saturday, April 29th. Barclays PLC lifted their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets reissued a “buy” rating and set a $145.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $152.67.

In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the transaction, the insider now owns 55,878 shares in the company, valued at $8,046,432. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 52,447 shares of the stock in a transaction that occurred on 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 owns 67,383 shares in the company, valued at approximately $9,475,397.46. The disclosure for this sale can be found here. In 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 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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