Cambridge Trust Co. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,095 shares of the industrial products company’s stock after selling 700 shares during the period. Cambridge Trust Co.’s holdings in Illinois Tool Works were worth $3,721,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Private Trust Co. NA increased its stake in Illinois Tool Works by 91.9% in the first quarter. Private Trust Co. NA now owns 7,001 shares of the industrial products company’s stock valued at $927,000 after buying an additional 3,352 shares during the last quarter. Inverness Counsel LLC NY bought a new stake in Illinois Tool Works during the first quarter valued at $201,000. Atria Investments LLC increased its stake in Illinois Tool Works by 12.2% in the first quarter. Atria Investments LLC now owns 12,661 shares of the industrial products company’s stock valued at $1,677,000 after buying an additional 1,372 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Illinois Tool Works during the first quarter valued at $543,000. Finally, Cribstone Capital Management LLC increased its stake in Illinois Tool Works by 1.4% in the first quarter. Cribstone Capital Management LLC now owns 2,883 shares of the industrial products company’s stock valued at $380,000 after buying an additional 40 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Inc. (ITW) traded up 0.27% during mid-day trading on Wednesday, reaching $139.47. The company’s stock had a trading volume of 212,638 shares. The stock’s 50 day moving average is $142.98 and its 200 day moving average is $137.72. Illinois Tool Works Inc. has a 12 month low of $111.50 and a 12 month high of $150.29. The company has a market cap of $48.00 billion, a price-to-earnings ratio of 22.57 and a beta of 1.11.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a yield of 2.24%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s dividend payout ratio (DPR) is 42.07%.

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ITW has been the subject of several research analyst reports. Barclays PLC upped their price objective on shares of Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. BMO Capital Markets reissued a “buy” rating and issued a $145.00 price target on shares of Illinois Tool Works in a report on Thursday, April 20th. Royal Bank Of Canada upped their price target on shares of Illinois Tool Works from $125.00 to $141.00 and gave the company a “sector perform” rating in a report on Tuesday, April 25th. Stifel Nicolaus reissued a “hold” rating and issued a $144.00 price target (up from $140.00) on shares of Illinois Tool Works in a report on Tuesday, April 25th. Finally, Citigroup Inc. upped their price target on shares of Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $152.67.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was 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 $9,475,397.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at approximately $3,455,701.44. 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. Company insiders own 0.90% of the company’s stock.

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.

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

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