Clear Harbor Asset Management LLC maintained its position in Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,699 shares of the industrial products company’s stock at the end of the second quarter. Clear Harbor Asset Management LLC’s holdings in Illinois Tool Works were worth $541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Ledyard National Bank boosted its position in Illinois Tool Works by 24.1% in the first quarter. Ledyard National Bank now owns 6,429 shares of the industrial products company’s stock worth $851,000 after buying an additional 1,250 shares during the period. Trust Department MB Financial Bank N A boosted its position in Illinois Tool Works by 4.4% in the first quarter. Trust Department MB Financial Bank N A now owns 11,297 shares of the industrial products company’s stock worth $1,497,000 after buying an additional 472 shares during the period. Nisa Investment Advisors LLC boosted its position in Illinois Tool Works by 1.5% in the first quarter. Nisa Investment Advisors LLC now owns 149,882 shares of the industrial products company’s stock worth $19,855,000 after buying an additional 2,180 shares during the period. DnB Asset Management AS boosted its position in Illinois Tool Works by 19.8% in the first quarter. DnB Asset Management AS now owns 45,417 shares of the industrial products company’s stock worth $6,016,000 after buying an additional 7,500 shares during the period. Finally, Private Wealth Partners LLC bought a new position in Illinois Tool Works during the first quarter worth approximately $212,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded up 0.53% during mid-day trading on Friday, hitting $136.91. 474,042 shares of the stock traded hands. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 22.15 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The firm’s 50-day moving average is $142.70 and its 200-day moving average is $137.72.

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, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works’s payout ratio is 42.07%.

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Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a research note on Thursday, July 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $140.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research note on Wednesday, July 12th. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $151.08.

In other news, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the transaction, the insider now directly owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the transaction, the insider now directly owns 55,878 shares in the company, valued at $8,046,432. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock worth $14,329,625 over the last three months. 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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